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Jan 31, 2020
Brown-Forman Q3 2020 Earnings Report
Brown-Forman's third quarter results were reported, with net sales remaining flat and diluted earnings per share increasing.
Key Takeaways
Brown-Forman reported essentially flat net sales of $899 million (+3% on an underlying basis) for the third quarter. Operating income decreased 5% to $304 million (+5% on an underlying basis), while diluted earnings per share rose 2% to $0.48. The company revised its full-year outlook due to tempered expectations in some international markets and an increasingly uncertain global environment.
Net sales were essentially flat at $899 million (+3% on an underlying basis).
Operating income decreased 5% to $304 million (+5% on an underlying basis).
Diluted earnings per share rose 2% to $0.48.
Full-year outlook was revised to reflect tempered expectations in some international markets and an increasingly uncertain global environment, including the estimated impact of COVID-19.
Brown-Forman
Brown-Forman
Forward Guidance
The company revised the full-year outlook to reflect tempered expectations in some of its international markets reflecting both short-term disruptions and an increasingly uncertain global economic and geopolitical environment. This outlook also includes an estimated impact of COVID-19 (coronavirus).
Positive Outlook
- Low-single digit underlying net sales growth
- Diluted earnings per share of $1.75 to $1.80
Challenges Ahead
- Flat to modest decline in underlying operating income