Edition:
India

Brown-Forman Reports First Half Results In Fiscal 2019


Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - Brown-Forman Corp ::BROWN-FORMAN REPORTS SOLID FIRST HALF RESULTS IN FISCAL 2019; CONFIRMS FULL YEAR OUTLOOK.Q2 SALES $910 MILLION VERSUS REFINITIV IBES ESTIMATE OF $940 MILLION.Q2 EARNINGS PER SHARE $0.52.FY2019 EARNINGS PER SHARE VIEW $1.71, REVENUE VIEW $3.39 BILLION -- REFINITIV IBES DATA.ESTIMATES Q2 UNDERLYING NET SALES NEGATIVELY IMPACTED BY ABOUT 2 PERCENT POINTS PRIMARILY DUE TO TARIFF-RELATED INVENTORY REDUCTIONS.CURRENTLY ANTICIPATES UNDERLYING NET SALES GROWTH OF 6% TO 7% FOR FISCAL YEAR 2019.SEES FISCAL YEAR 2019 UNDERLYING OPERATING INCOME GROWTH OF 4% TO 6%.SEES FISCAL YEAR 2019 DILUTED EARNINGS PER SHARE OF $1.65 TO $1.75.RECENTLY ENACTED RETALIATORY TARIFFS ON AMERICAN WHISKEY HAVE CREATED ADDITIONAL UNCERTAINTY AROUND COMPANY'S NEAR-TERM OUTLOOK.FISCAL YEAR 2019 OUTLOOK FOR DILUTED EARNINGS PER SHARE ASSUMES TARIFFS REMAIN IN PLACE FOR FULL FISCAL YEAR."WHILE WE ARE LARGELY ABSORBING TARIFF COSTS DURING FISCAL 2019, WE ARE CONFIDENT IN LONG-TERM GROWTH POTENTIAL FOR OUR BRANDS". 

Company Quote

64.31
0.15 +0.23%
12 Nov 2019