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Stock Market & Financial Investment News

News For BFA;BFB From The Last 14 Days
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March 4, 2015
15:30 EDTBFA, BFBBrown Forman initiated with a Hold at Pivotal Research
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07:48 EDTBFA, BFBBrown-Forman reports Q3 EPS 87c, consensus 87c
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07:46 EDTBFA, BFBBrown-Forman sees FY15 EPS $3.15-$3.25, consensus $3.24
Assuming stable global market conditions, the company is reaffirming its underlying growth outlook for FY15, including 6-8% growth in underlying net sales and 9-11% growth in underlying operating income. The company also expects reported results to continue to be negatively impacted by the strong appreciation of the U.S. dollar compared to other currencies. After considering current spot rates versus the prior year rates, as well as the company’s hedge positions, the company anticipates a mid-single digit currency headwind on reported operating income growth for the full year. This would negatively impact full year EPS by 20c, compared to the 15c per share impact expected at the time of the second quarter earnings call. The company now expects diluted earnings per share of $3.15-$3.25, which incorporates this incremental negative impact from foreign exchange.

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