Premium spirits manufacturer Beam Inc. ( BEAM ) reported on Friday a rise in third quarter earnings on higher revenues, beating Wall Street analysts' view.
The Deerfield, Illinois based company reported third quarter earnings from continuing operations were $91.7 million, or 57 cents per share, compared with a loss of $82 million, or -53 cents per share, a year earlier. Adjusted earnings, excluding charges and gains, were 62 cents per share. This total beat the average analyst estimate of 55 cents per share.
Beam's revenue rose 8% to $627.5 million, beating analysts expectations of $605 million.
Looking forward, the firm expects low double digit growth in earnings per share in 2012 due to continuing operations and acquisitions.
Beam shares were mostly flat in premarket trading on Friday.
BEAM Inc ( BEAM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.