Brown-Forman Reports Increased Profits; Beats Estimates (BF-B)
Alcoholic beverage manufacturer, Brown-Forman Corporation(BF-B) reported increased earnings for their Q2, beating analysts expectations on Wednesday.
The Louisville, KY based company reported second quarter earnings of $173 million, or 80 cents per share, up 9% from last years earnings of $157.6 million, or 73 cents per share. On average, analysts expected to see EPS of 78 cents.
Revenue came in at $1.01 billion for the quarter, matching revenue from last year.
The company expects to see 2013 profit in the range of $2.58 to $2.70 per share, an increased estimate from the previous range of $2.40 to $2.67 per share. Analysts are expecting EPS of $2.67.
Brown-Forman shares were mostly flat during premarket trading Wednesday.
The Bottom Line
Shares of Brown-Forman (BF-B) have a 1.48% dividend yield, based on last night’s closing stock price of $68.74. The stock has technical support in the $64-$65 price area. The shares are trading near all-time highs.
Brown-Forman Corporation(BF-B) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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