Alcoholic beverage maker Brown-Forman Corp. (BFA,BFB) posted 37% lower fourth-quarter net income of $104.5 million or $0.73 per share, compared with the prior year's $165.4 million or $1.13 per share. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.76 for the quarter. Analysts' estimates typically exclude one-time items.
As anticipated, reported year-on-year comparisons were negatively impacted by the absence of the gain on sale and associated profits from the Hopland-based wine business2, as well as foreign exchange for a combined net impact of about $0.36 per share, the company said.
However, net sales for the fourth quarter were $801.3 million, up 1% from $791.3 million a year earlier, with an underlying growth of 10%. Analysts estimated revenues of $804.94 million for the quarter.
Looking ahead to fiscal 2013, the company expects a continuation of fiscal 2012's strong underlying trends, with net sales and operating income growth in the high single digits, and earnings per share of $3.60 - $4.00, including an anticipated negative impact from foreign exchange of $0.11 per share. Eleven analysts project earnings of $3.98 per share for the full year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.