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Wednesday, April 7, 2010 as of 11:14 AM ET

Paul Varga

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Brown-Forman 1Q Sales Widely Beat Street on Jack Daniel's Sales

Spirits maker Brown-Forman (NYSE:BF’A) reported on Wednesday a 6% improvement in first-quarter profit that narrowly missed Wall Street expectations, however strong sales of its flagship Jack Daniel’s products continued to boost revenues.

 The alcohol beverage producer posted net income of $118.1 million, or 81 cents a share, compared with a year-earlier profit of $111.4 million, or 76 cents a share, just missing average analyst estimates polled by Thomson Reuters of 83 cents.Revenue for the three months ended was $840 million, up 13% from $744.9 million a year ago, widely trumping the Street’s view of $725.4 million.“We are pleased that our first quarter results improved over our good results in fiscal 2011,” Brown-Forman CEO Paul Varga said in a statement. “In this quarter, we continued to enjoy widespread international growth.”The company also attributed the improved performance to acceleration of its U.S. business, driven by the continued growth of the flagship Jack Daniel’s brand.Ga...

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  1. Jack Daniel's Maker Brown-Forman to Buyback $250M Shares

    Alcoholic beverage maker Brown-Forman (NYSE:BFA) announced on Friday that its board of directors has authorized a $250 million stock repurchase program.The Louisvill...

  2. Brown-Forman Posts Stronger 4Q Profit on Jack Daniel's Demand

    Jack Daniel's whiskey maker Brown-Forman (NYSE:BFA) brewed up a stronger-than-expected 30% jump in third-quarter profit, leading the company to raise its full-year v...

  3. Brown-Forman 1Q Profit Sinks, Reaffirms Guidance

    Shares of Brown-Forman ( BFB ) were down about 7% Tuesday after the wine and liquors maker said its first-quarter profit slumped from a year ago, as strong global sa...

  4. Brown-Forman's Net Slides 8.7%, Missing Estimates

    Brown-Forman (BF.A) suffered a steeper-than-expected 8.7% drop in fiscal fourth-quarter earnings on Wednesday and the maker of Jack Daniels issued mostly in-line out...

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