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Brown-Forman Q3 Profit Up 19%, Reiterates FY19 Outlook - Quick Facts

Brown-Forman Corp. (BFA,BFB) reported Wednesday that its net income for the third quarter of fiscal 2019 rose to $227 million or $0.47 per share from $190 million or $0.39 per share in the year-ago quarter.

Quarterly net sales increased 3% to $904 million from $878 million in the prior-year period, while it was rose 4% on an underlying basis.

The company estimates that underlying net sales growth in the third quarter was negatively impacted by one percentage point due to lower net prices to distributors in certain markets to offset the incremental cost of tariffs.

For fiscal year 2019, Brown-Forman affirmed its outlook for earnings per share of $1.65 to $1.75, underlying operating income growth of 4% to 6%, and underlying net sales growth of 6% to 7%.

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