logo
Plus   Neg
Share
Email

Brown-Forman Reaffirms FY20 Guidance - Quick Facts

Brown-Forman Corp. (BFA,BFB) said, for fiscal 2020, the company continues to project: underlying net sales growth of 5% to 7%; and earnings per share of $1.75 to $1.85.

Lawson Whiting, CEO, said: "We believe we remain on track to deliver another year of solid underlying net sales and underlying operating income growth driven by the Jack Daniel's family of brands. This includes the benefit we expect from the launch of Jack Daniel's Tennessee Apple beginning in October, as well as the continued strength of our portfolio of premium bourbons and tequilas."

For the first-quarter, earnings per share declined 6 percent year-on-year to $0.39. Net sales were $766 million, flat both on a reported and underlying basis from prior year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Monsanto on Thursday pleaded guilty to illegally using a banned pesticide known as Penncap-M on research crops at one of its facilities on the Hawaiian island of Maui. The agro-chemicals company will pay $10 million for charges that it unlawfully stored the banned pesticide, which had to be managed as an acute hazardous waste. The banned pesticide is specifically methyl parathion. Anti-aging skin care products, beauty serum ingredients and essential oils provider Resurrectionbeauty issued a recall for about 270 units of wintergreen essential oil due to risk of poisoning for young children if they swallow it. However, the company has not received reports of any incidents or injuries so far. The product contains the substance methyl salicylate. Microsoft has delayed the worldwide launch of its Surface Earbuds till Spring 2020. The $249 wireless earbuds were originally expected to launch this year. The delay is a setback in Microsoft's attempt to compete with Apple's latest earbuds, AirPods Pro, which has a new design and features active noise cancellation.
RELATED NEWS
Follow RTT
>