UPDATE: Brown-Forman Posts 10% Surge In Q2 Profit, Raises 2013 Forecast
Brown-Forman (NYSE: BF-B) reported a 10% rise in its second-quarter profit.
Brown-Forman's quarterly profit surged to $173 million, or $0.80 per share, versus $157.6 million, or $0.73 per share, in the year-earlier period.
Its net sales came in flat at $1 billion. However, analysts were expecting earnings of $0.78 per share.
Brown-Forman projects 2013 profit of $2.58 to $2.70 per share, versus its prior forecast of $2.40 to $2.67 per share. However, analysts were expecting earnings of $2.67 per share.
Brown-Forman shares closed at $68.74 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.