Why Jack Daniel's Parent Brown-Forman Shares Are Trading Lower Today
Portfolio Pulse from Shivani Kumaresan
Brown-Forman Corp (NYSE:BF) shares are trading lower after the company reported a decline in fourth-quarter FY24 sales and provided a cautious outlook. Sales fell 8% year-on-year to $964 million, missing estimates, though EPS of $0.56 beat expectations. The company sees FY25 organic net sales growth of 2-4% and faces macroeconomic and geopolitical uncertainties.
June 05, 2024 | 2:15 pm
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Brown-Forman Corp (NYSE:BF) shares are down 3.04% after reporting a Q4 FY24 sales decline of 8% year-on-year, missing analyst estimates. Despite an EPS beat, the company provided a cautious FY25 outlook with 2-4% organic net sales growth.
The decline in sales and the cautious outlook for FY25, despite an EPS beat, are likely to weigh on investor sentiment in the short term, leading to a negative impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100