Brown-Forman's stock rises as it signals growth ahead despite market challenges

Dow Jones

05 Dec 2024

MW Brown-Forman's stock rises as it signals growth ahead despite market challenges

Brown-Forman Corp.'s stock $(BF.B)$ rose 7% in premarket trading on Thursday after the liquor maker beat Wall Street estimates for profit and revenue in its latest quarter and said it expects to generate positive net sales and operating income in its current fiscal year despite "macroeconomic uncertainties." Brown-Forman's second-quarter 2025 profit rose 7% to $258 million, or 55 cents a share from $242 million, or 50 cents a share, in the year-ago quarter. Brown-Forman beat the FactSet consensus estimate of 49 cents a share. Sales fell 1% to $1.11 billion and topped the analyst expectation of $1.07 billion. The sales dip was mostly due to the sale of its Sonoma-Cutrer and Finlandia brands, the company said. Looking ahead, Brown-Forman said a boost from international markets and the "benefit of normalizing industry trends" will help it generate organic net sales and organic operating income in fiscal 2025. "This outlook is tempered by our belief that global macroeconomic and geopolitical uncertainties will continue to create a challenging operating environment," the company said.

-Steve Gelsi

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 05, 2024 08:56 ET (13:56 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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