Brown-Forman reports EPS in-line, revs in-line; reaffirms FY17 EPS guidance but lowers underlying net sales, operating income guidance
- Reports Q2 (Oct) earnings of $0.50 per share, in-line with the Capital IQ Consensus of $0.50; revenues fell 2.8% year/year to $830 mln vs the $837.25 mln Capital IQ Consensus; underlying net sales +3%; underlying operating income +8%.
- Underlying net sales in the United States and emerging markets improved quarter over quarter.
- Co reaffirms EPS guidance for FY17, sees EPS of $1.71-1.81 vs. $1.76 Capital IQ Consensus. Lowers underlying net sales growth to 4% to 5% from +4-6%; lowers underlying operating income growth to 6% to 8% from +7-9%