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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.

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