Brown-Forman Corp reaffirms FY 2014 guidance

Wednesday, 4 Dec 2013 08:00am EST 

Brown-Forman Corp:Says reaffirming outlook for fiscal 2014.Sees fiscal 2014 high-single digit growth in underlying sales.Sees 9 percent to 11 percent increase in underlying operating income.Sees diluted earnings per share of $2.80 - $3.00.Says the EPS outlook for fiscal 2014 includes an estimated negative effect of $0.06 per diluted share related to the expected decrease in net inventories from the route-to-consumer change in France on Jan. 1, 2014.Says SG&A in the back half of fiscal 2014 will be negatively impacted by this transition to an owned distribution model.Says foreign exchange is now expected to be neutral to full year EPS compared to the prior year.FY 2014 revenues of $4 billion, EBIT of $961 million, EPS of $2.95 - Thomson reuters I/B/E/S Estimates. 

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