Brown-Forman Corp. (BFB) has announced its third-quarter earnings, showcasing an increase from the previous year and surpassing Wall Street predictions.
The company's net income reached $258 million, equating to $0.55 per share. This represents a growth from the $242 million, or $0.50 per share, reported in the same quarter the previous year.
According to Thomson Reuters, analysts had anticipated the company's earnings to be $0.49 per share on average, excluding any special items.
However, the company's revenue for the quarter saw a slight decline of 1.1%, decreasing to $1.095 billion compared to last year's $1.107 billion.
Highlights of Brown-Forman Corp.'s earnings (GAAP) for the third quarter are as follows:
- Earnings: $258 million, up from $242 million last year.
- Earnings Per Share: $0.55, compared to $0.50 in the previous year.
- Revenue: $1.095 billion, down from $1.107 billion last year.
