1Q24: Brown-Forman reports 1.1% decline in Q3 sales to $1.07bn, misses revenue estimate, lowers full-year organic sales growth guidance.
Brown-Forman, the parent company of Jack Daniel's, reported a 1.1% decline in third-quarter FY24 sales to $1.07bn, missing the analyst consensus estimate of $1.12bn. Despite this, the company's EPS of $0.60 surpassed the analyst consensus estimate of $0.57. The company has lowered its full-year organic sales growth guidance from a prior forecast of +3% to +5% to flat organic sales. Brown-Forman's stock has dropped 9.87% to $55.07.
March 06, 2024
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