Jack Daniel's Parent Brown-Forman Q1 Earnings Miss Estimates
Portfolio Pulse from Shivani Kumaresan
Brown-Forman Corp reported Q1 FY24 sales growth of 3% to $1.04 billion, missing the analyst consensus of $1.05 billion. EPS of $0.48 also missed the analyst consensus of $0.53. The company reaffirmed its full-year fiscal 2024 guidance of 5-7% organic net sales growth and 6-8% organic operating income growth. BF-B shares are trading lower by 5.26% at $65.40.
August 30, 2023 | 2:43 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Brown-Forman's Q1 FY24 sales and EPS missed estimates, which could potentially impact BF-A shares.
As both BF-A and BF-B shares represent the same company, Brown-Forman's missed earnings and sales estimates could potentially impact BF-A shares in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Brown-Forman's Q1 FY24 sales and EPS missed estimates, leading to a drop in BF-B shares.
The company's missed earnings and sales estimates have led to a negative market reaction, with BF-B shares trading lower. This could potentially impact the stock's performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100