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Brown-Forman Posts Fiscal Q3 Earnings Beat, Sales Miss

Brown-Forman ( BF.B ) reported pre-market Friday fiscal Q3 earnings of $0.47 per share compared to $0.39 per share in the same period last year. Analysts surveyed by Capital IQ were expecting EPS of $0.45.

The wine and spirits maker said sales rose to $904 million in the three-month period ending Jan. 31, from $878 million in the year-ago period. CapIQ analysts had called for revenues of $910.7 million.

Moving forward, the company said that it expects FY2019 EPS of $1.65 to $1.75, straddling the Street estimate of $1.70, and underlying net sales growth of 6% to 7%. It also sees underlying operating income growth of 4% to 6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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