Brown-Forman profit climbs

Investor's Business Daily

The maker of Jack Daniel's whiskey, Finlandia vodka and other premium alcoholic beverages said fiscal Q4 EPS jumped 38% to 62 cents, beating estimates by 4 cents a share, partly on strong sales in emerging markets. Brown-Forman's (BFB) total sales rose 3% to $893 mil, up 9% in emerging markets, but fell short of consensus for $921.7 mil. Gross margin widened to 55.2% from 53.1% on lower costs. For fiscal '15, Brown-Forman sees EPS of $3.25-$3.45, the midpoint above analyst estimates for $3.29. Shares rose 0.3% to 93.15.

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