LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free earnings report on Brown-Forman Corp. (NYSE: BF-B) (NYSE: BF-A) ("Brown-Forman"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BF-B. Brown-Forman posted its second quarter of fiscal 2018 (Q2 FY18) on December 06, 2017. The leading alcoholic beverages manufacturers' net sales increased 10.12% on a y-o-y basis for the reported quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Brown-Forman most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During the second quarter of the fiscal year 2018, Brown-Forman's net sales increased 10.12% to $914.00 million compared to $830.00 million in Q2 FY17. The Company's robust sales performance was attributed to persistent momentum in its focus categories and strength in its liquor brands such as Jack Daniel's, Old Forester, etc. Furthermore, net sales also gained from improved economies in emerging markets. The Company's revenue numbers beat analysts' estimates of $867.80 million.
The Company's gross profit was $610.00 million in Q2 FY18 compared to $552.00 million in Q2 FY17, reflecting growth of 10.51% on a y-o-y basis. The Company's gross margins widened from 66.06% to 66.52% compared to the same period last year. Brown-Forman's selling, general, and administrative expenses (SG&A) remained flat at $163.00 million in the reported quarter compared to Q2 FY17. This was primarily backed by stringent cost controls. Brown-Forman had an operating income of $346.00 million in Q2 FY18 compared to $291.00 million in Q2 FY17, advancing 18.90% on a y-o-y basis.
The Company's net income was $239.00 million in Q2 FY18 compared to $197.00 million in Q2 FY17, increasing 21.32% on a y-o-y basis. The Company's diluted earnings per share (EPS) were $0.62 in the reported quarter compared to $0.50 in the second quarter of the previous fiscal year, advancing to 23% on a y-o-y basis, and beating analysts' estimates of $0.53.
Brown-Forman's Segment Details
The Jack Daniel's family of brands grew underlying sales (excluding negative currency impact and other adjustments) 7.00%, including 6.00% growth for Jack Daniel's Tennessee Whiskey.
The Company's Super and Ultra-premium American Whiskey brands grew underlying net sales 15.00%, including 21.00% growth from Woodford Reserve.
Herrera grew underlying net sales 19.00% and el Jimador grew underlying net sales 10.00%.
On the basis of markets, Emerging markets delivered strong results with underlying net sales up 15.00%; whereas, Developed markets grew underlying net sales by 5.00% - with 6.00% growth in the United States and 5.00% growth outside of the United States.
Cash Matters
Brown-Forman had cash and cash equivalents of $212.00 million as on October 31, 2017, compared to $211.00 million as on October 31, 2016. The net inflow from operating activities was $214.00 million in the reported quarter compared to $169.00 million in Q2 FY17. The Company declared dividends of $0.20 per share on Class A and Class B shares on November 16, 2017, reflecting 8.2% increase from the previous dividend rate. The raised dividend is payable on January 02, 2018, to shareholders on record as of December 07, 2017.
Outlook
For the second quarter of the fiscal 2018, Brown-Forman is forecasting sales growth to be in the range of 6.00% to 7.00% and EPS to be in the band of $1.90 to $1.98.
Stock Performance Snapshot
January 04, 2018 - At Thursday's closing bell, Brown-Forman's stock slightly fell 0.12%, ending the trading session at $68.11.
Volume traded for the day: 948.71 thousand shares, which was above the 3-month average volume of 721.04 thousand shares.
Stock performance in the last month - up 9.70%; previous three-month period - up 25.78%; past six-month period - up 40.93%; and past twelve-month period - up 49.43%
After yesterday's close, Brown-Forman's market cap was at $26.11 billion.
Price to Earnings (P/E) ratio was at 35.40.
The stock has a dividend yield of 1.16%.
The stock is part of the Consumer Goods sector, categorized under the Beverages - Wineries & Distillers industry. This sector was up 0.7% at the end of the session.
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