Brown-Forman Q4 Profit Rises 8% on Higher Sales; Beats Estimates (BF-B, BF-A)

Brown-Forman Q4 Profit Rises 8% on Higher Sales; Beats Estimates (BF-B, BF-A)


Before the opening bell on Wednesday, alcoholic beverage maker Brown-Forman Corporation (BF-B), know for its Jack Daniel’s and Southern Comfort brands, reported a rise in both earnings and sales, topping Wall Street estimates.

The Louisville, Kentucky-based company said it earned $113 million, or 52 cents per share, in its fourth quarter, up from $105 million, or 49 cents per share, earned in the comparable period a year ago. On average, analysts polled by Thomson Reuters were expecting Brown Forman to earn 46 cents per share in the quarter.

The company’s quarterly net sales rose 8% to $866 million, up from last year’s $801 million. Analysts were expecting the company to see $861.73 million in revenues.

Paul Varga, Brown-Forman’s CEO, said, “We are pleased to have delivered another year of top-tier industry results, with underlying sales growth of 8% and underlying operating income growth of 13%. The company achieved solid price increases, which helped drive margin expansion.”

Looking ahead to fiscal 2014, Brown-Forman remains cautiously optimistic that organic growth will persist, as the global demand of North American whiskey continues to be strong and favorable trends in premiumization will benefit earnings. The company expects to earn between $2.80 and $3.00 per share in 2014.

Brown-Forman shares were inactive during pre-market trading on Wednesday. The stock is up +8.27% year-to-date.

The Bottom Line
Shares of Brown-Forman (BF-B) have a dividend yield of 1.49% based on last night’s closing price of $68.48 and the company’s annualized dividend payout of $1.02 per share.

Brown-Forman Corporation (BF-B) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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