Brown-Forman Second Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags
Brown-Forman (NYSE:BF.B) Second Quarter 2023 Results
Key Financial Results
Revenue: US$1.09b (up 10% from 2Q 2022).
Net income: US$227.0m (down 3.8% from 2Q 2022).
Profit margin: 21% (down from 24% in 2Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.47 (down from US$0.49 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Brown-Forman Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 14%.
Looking ahead, revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Beverage industry in the US.
Performance of the American Beverage industry.
The company's shares are down 8.0% from a week ago.
Before you take the next step you should know about the 1 warning sign for Brown-Forman that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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