Alcoholic Beverage manufacturer Brown-Forman Corp. (BF-B, BF-A) posted 18% higher third-quarter net income of $157.6 million, or $0.73 per share, compared with the prior-year quarter's $133.1 million, or $0.62 per share. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.70 for the quarter. Analysts' estimates typically exclude one-time items.
Three-month reported net sales stood at $1.03 billion, up 7% from $959 million a year ago, and grew by 8% on an underlying basis. Analysts estimated revenues of $1.03 billion for the quarter. Reported net sales growth was negatively impacted by the absence of Hopland-based wines, offset by favorable foreign exchange, according to the company.
For fiscal 2013, the company has updated its earnings per share outlook to $2.60 - $2.68 from its previous view of $2.58 - $2.70. Twelve analysts project full-year earnings of $2.69 per share.
This outlook now incorporates a negative $0.05 impact in the fourth quarter from the charges associated with the redemption of the company's 2014 notes, and adverse foreign exchange moves. While uncertainty persists in the fragile global economy, the company still sees high single-digit growth in underlying net sales and low double-digit growth in underlying operating income in fiscal 2013.
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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.