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Stock Market & Financial Investment News

News Breaks
September 19, 2012
08:52 EDTBFBBrown-Forman Corporation to be distributed by Asahi in Japan
Brown-Forman has reached agreement in principle with the Asahi Group to distribute its brands in Japan as of January 1, 2013. The announcement follows one by Suntory stating that Brown-Forman and Suntory are concluding their more than 40-year business relationship at the conclusion of the current contract, which is December 31.
News For BFB From The Last 14 Days
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March 4, 2015
15:30 EDTBFBBrown Forman initiated with a Hold at Pivotal Research
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07:48 EDTBFBBrown-Forman reports Q3 EPS 87c, consensus 87c
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07:46 EDTBFBBrown-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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