Brown-Forman posts 2Q profit of $208 million, result misses forecasts
Brown-Forman Corp. (BF.B) on Wednesday reported fiscal second-quarter earnings of $208 million.
On a per-share basis, the Louisville, Kentucky-based company said it had profit of 97 cents.
The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The liquor company that makes Jack Daniel's and other brands posted net sales of $1.1 billion in the period, up 5 percent from a year ago.
Brown-Forman expects full-year earnings to be $3.15 to $3.35 per share.
Brown-Forman shares have risen 27 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 12 percent. The stock has risen 30 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://www.automatedinsights.com/ap ) using data from Zacks Investment Research . BF.B stock research report from Zacks: http://www.zacks.com/ap/BF.B .