Brown-Forman reports better than expected revenue for fiscal Q4.

Brown-Forman Corp (NYSE: BF.B) said on Wednesday its revenue in the fiscal fourth quarter beat Wall Street estimates. Profit, however, came in weaker compared to what analysts had predicted.

Q4 financial results

Brown-Forman said its net income in the quarter that concluded on 30^th April printed at $120 million (£85 million) that translates to 25 cents per share. In the same quarter last year, its net income stood at a higher $128 million, or 27 cents per share.

The owner of prominent brands like Jack Daniel’s generated $812 million of sales in the recent quarter that represent a 14% year over year growth. According to FactSet, experts had forecast the company to post $774 million of sales in Q4. Their estimate for per-share earnings was for 31 cents. Gross profit as a percentage of sales slipped from 63.9% to 61.3%.

Fiscal 2021 results

For the full financial year, Brown-Forman said its Jack Daniel’s brands reported a 3% annualised increase in sales. Tequila sales jumped 9% in the recently concluded year, while wine sales noted a 10% year over year increase.

The Louisville-based company’s vodka sales come in 18% higher than last year. American whiskey and bourbons sales jumped 3% and 19%, respectively. In separate news from the United States, Campbell Soup also published its quarterly earnings report on Wednesday.

Guidance for fiscal 2022

Commenting on expectations for fiscal 2022, CFO Jane Morreau said:

Brown-Forman shares were reported about 0.5% up in after-hours trading on Wednesday. Including the price action, the stock is now exchanging hands at $75.19 per share. This compares to a year-to-date low of $68.41 per share in the first week of March.

Brown-Forman performed fairly upbeat in the stock market last year with an annual gain of close to 20%. At the time of writing, one of the largest American-owned companies in the spirits and wine business is valued at $35.11 billion and has a price to earnings ratio of 39.67.