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Brown-Forman Corp Reaffirms FY 2014 Outlook

Wednesday, 28 Aug 2013 08:12am EDT 

Brown-Forman Corp reaffirmed its outlook for fiscal 2014. While results in the first quarter of 2014 were negatively impacted by last year's buy-in, the Company expects more favorable comparisons in the second quarter of 2014. For the fiscal 2014, the Company anticipates high-single digit growth in underlying sales and a 9-11% increase in underlying operating income, which would result in diluted earnings per share of $2.80-$3.00. The EPS outlook includes anticipated negative impacts from foreign exchange of $0.03 per share as well as the negative impact of $0.06 per share related primarily to the buyback of inventory in France as the Company transitions to an owned distribution model on January 1, 2014. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3.88 billion and EPS of $2.97 for fiscal 2014. 

Company Quote

-0.54 -0.59%
10:54am EDT