Brown Forman Q2 EPS $0.50 Misses $0.51 Estimate, Sales $1.11B Miss $1.15B Estimate
Portfolio Pulse from Benzinga Newsdesk
Brown Forman Inc Class B (NYSE:BF.B) reported Q2 earnings of $0.50 per share, missing the consensus estimate of $0.51 by 1.96%. Sales were $1.11B, falling short of the $1.15B estimate by 3.74%, but marked a 1.19% increase from the same period last year.
December 06, 2023 | 1:01 pm
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NEGATIVE IMPACT
Brown Forman Inc Class B reported lower-than-expected Q2 earnings and sales, which could lead to negative investor sentiment and a potential short-term decline in stock price.
Missing both earnings and sales estimates typically leads to a negative reaction in the stock market. Although the company showed a year-over-year increase, the failure to meet analyst expectations could result in a short-term drop in Brown Forman's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100