Brown-Forman (BFB) — the owner of Jack Daniel’s, Herradura tequila, Chambord and other kinds of liquor — raised its full-year profit guidance after easily topping second-quarter forecasts Wednesday.
X Estimates: Earnings per share is expected to rise 6% to 53 cents on a 4.6% bump in revenue to $868 million.
Results: EPS of 62 cents on revenue of $914 million. Sales of Jack Daniel’s family of brands rose 10%.
Outlook: Full-year EPS now seen at $1.90-$1.98, up from a prior view of $1.85-$1.95.
“Against a backdrop of improving economies in the emerging markets, and continued momentum in our categories of focus, our underlying net sales have accelerated nicely due to strong performances from our Jack Daniel’s, Woodford Reserve, Old Forester and Herradura brand families, as well as timing-driven improvements in our used barrel sales,” said CEO Paul Varga in a statement.
Stock: Shares rose 2% to 63.00 in premarket trading on the stock market today.