UPDATE: Brown-Forman (BF-A) Misses Q4 EPS by 3c, Offers FY18 EPS

Brown-Forman (NYSE: BF-A) reported Q4 EPS of $0.37, $0.03 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $694 thousand versus the consensus estimate of $738.6 thousand.

Fiscal Year 2018 Outlook

The global economy remains volatile, particularly in the emerging markets, and the competitive landscape has intensified in the developed world, making it difficult to predict future results. Assuming no deterioration in current trends, the company anticipates:

1. Underlying net sales growth of 4% to 5%, led by the Jack Daniel's family of brands, our premium bourbon and tequila brands, and helped by new products such as the launch of Jack Daniel's Tennessee Rye and Slane Irish Whiskey, as well as seeding of our single malt scotch brands.
2. Underlying operating income growth of 6% to 8%.
3. Diluted earnings per share of $1.80 to $1.90, which includes a modest negative impact from a higher tax rate, foreign exchange headwinds and setting up owned distribution in Spain.

Furthermore, the company is targeting three year cost savings of $100 million (FY18-FY20) through better leveraging prior investments, including production capabilities, route to market initiatives, brand innovation, homeplace assets, and our people.

(Street sees FY EPS of $1.87)

For earnings history and earnings-related data on Brown-Forman (BF-A) click here.

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