Brown-Forman (BF-A) Tops Q1 EPS by 7c, Offers FY Guidance

Brown-Forman (NYSE: BF-A) reported Q1 EPS of $0.46, $0.07 better than the analyst estimate of $0.39. Revenue for the quarter came in at $723 million versus the consensus estimate of $689 million.

GUIDANCE:

Brown-Forman sees FY2018 EPS of $1.85-$1.95, versus the consensus of $1.85.

• Underlying net sales growth of 4% to 5%, led by our premium American whiskey and tequila brands, including disciplined innovation for Jack Daniel’s RTDs, as well as the launch of Jack Daniel's Tennessee Rye and Slane Irish Whiskey.
• Flat underlying SG&A as the company expects to continue its disciplined approach to managing costs.
• Underlying operating income growth of 6% to 8%.
• Diluted earnings per share of $1.85 to $1.95, which now incorporates a tax rate of approximately 28% and a slightly favorable impact from foreign exchange.

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

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