Key Developments: Brown-Forman Corp (BFa)
73.45USD
20 May 2013
$-0.78 (-1.05%)
$74.23
$74.61
$74.77
$73.30
5,442
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$74.82
$54.27
Latest Key Developments (Source: Significant Developments)
Brown-Forman Corp Reaffirms FY 2013 Guidance; Narrows FY 2013 EPS Guidance
Brown-Forman Corp announced that for fiscal 2013, it expects earnings outlook to a range of $2.60-2.68 from $2.58-$2.70. This outlook incorporates a negative $0.05 impact in the fourth quarter of 2013, from the charges associated with the redemption of the Company's fiscal 2014 notes, as well as adverse foreign exchange moves. While uncertainty persists in the fragile global economy, the Company continues to expect high single-digit growth in underlying net sales and low double-digit growth in underlying operating income in fiscal 2013. The Company reported revenue of $3.6 billion and operating profit of $788 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3.7 billion and EPS of $2.69 for fiscal 2013. Full Article
Brown-Forman Corp Declares Cash Dividend
Brown-Forman Corp announced that Board of Directors declared a regular quarterly cash dividend of 25½ cents per share on its Class A and Class B Common Stock. Stockholders of record on March 8, 2013 will receive the cash dividend on April 1, 2013. Full Article
Brown-Forman Corp Raises FY 2013 EPS Guidance; Reaffirms FY 2013 Guidance
Brown-Forman Corp announced that it is raising its fiscal 2013 earnings outlook to $2.58 to $2.70 from $2.40 to $2.67. While there continues to be uncertainty in the global economy going into the important holiday selling season, the Company continues to expect high single-digit growth in underlying sales and has increased its expectations for operating income growth to low double digits. The Company reported operating income of $788 million and revenues of $3.6 billion in fiscal 2012. The Company reported operating income of $788 million and revenues of $3.6 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $3.8 billion, EBIT of $864 million and EPS of $2.66 for fiscal 2013. Full Article
Brown-Forman Corp Declares Special Cash Dividend
Brown-Forman Corp announced that the Board of Directors has declared a special cash dividend of $4.00 per share on Class A and Class B Common Stock that will be paid on December 27, 2012 to stockholders of record on December 12, 2012. This special cash dividend is in addition to the 9.3% increase in the Company's regular cash dividend announced by the Company on November 15, 2012. Full Article
Brown-Forman Corp Increases Cash Dividend By 9.3%
Brown-Forman Corp announced that its Board of Directors increased its quarterly cash dividend on its Class A and Class B Common Stock by 9.3% to 25½ cents per share from the prior quarter`s 23⅓ cents per share. As a result, the indicated annual cash dividend will rise from 93⅓ cents per share to $1.02 per share. Stockholders of record on December 5, 2012 will receive their quarterly cash dividend on December 26, 2012. Full Article
Asahi To Distribute Brown-Forman Corp Brands In Japan
Brown-Forman Corp confirmed that it has reached agreement in principle with the Asahi Group to distribute its brands in Japan as of January 1, 2013. The announcement follows one by Suntory stating that Brown-Forman and Suntory are concluding their more than 40-year business relationship at the conclusion of the current contract, which is December 31, 2012. Asahi is a 120-year-old company that is best known for producing, marketing and selling some of Japan’s best known beer brands, including Super Dry, the number one selling beer in Japan, but which also produces, markets, and sells a variety of whiskeys, shochus, wines, and RTDs. Brown-Forman already works with Asahi in Australia, as it owns the Schweppes Company that serves as co-packer for the company’s RTD brands. Full Article
Brown-Forman Corp Reaffirms FY 2013 Guidance
Brown-Forman Corp confirmed fiscal 2013 outlook and expects earnings of $2.40 to $2.67 per share, adjusted for the three-for-two stock split. This outlook also includes anticipated negative impacts from foreign exchange of $0.05 per share and commodity price increases of $0.03 per share. At this point, for fiscal 2013, the Company continues to expect high single-digit growth in underlying sales and operating income. The Company reported operating income of $788 million and revenues of $3.6 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $3.8 billion, EBIT of $847 million and EPS of $2.60 for fiscal 2013. Full Article
Brown-Forman Corp Declares Dividend
Brown-Forman Corp announced that the board of directors have approved a regular quarterly cash dividend of $0.2333 per share on the split-adjusted Class A and Class B common stock. Stockholders of record on September 7, 2012, will receive the cash dividend on October 1, 2012. Full Article
Brown-Forman Corp. Comments On FY 2013 Revenue Guidance; Issues FY 2013 EPS Guidance
Brown-Forman Corp. announced that for fiscal 2013, it is forecasting another strong year of underlying growth rates comparable to fiscal 2012 levels and in-line with historic long-term rates of growth. For fiscal 2013, the Company expects high single-digit growth in underlying sales and operating income while continuing to invest in future growth. The Company projects diluted earnings per share (EPS) of $3.60 to $4.00, including an anticipated negative impact from foreign exchange of $0.11 per share. The Company reported operating income of $788 million and revenues of $3.6 billion in fiscal 2012. Full Article
Brown-Forman Corp. Declares Cash Dividend
Brown-Forman Corp. announced that the Board of Directors declared a regular quarterly cash dividend of $0.35 cents per share on its Class A and Class B Common Stock. Stockholders of record on June 6, 2012 will receive the cash dividend on July 2, 2012. Full Article
Thirst for Jack Daniel's drives up Brown-Forman profit
- Worldwide demand for its Jack Daniel's whiskey helped U.S. distiller Brown-Forman Corp to beat Wall Street profit estimates for a third consecutive quarter, and the company said full-year sales would rise.
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