Stock Track | Brown-Forman Soars 5.21% Intraday Despite Earnings Miss as Revenue Beats Estimates

Stock Track
Jun 04

Brown-Forman (BF.B) shares surged 5.21% during intraday trading on Thursday, marking a significant reversal from earlier declines.

The spirits maker reported fiscal fourth-quarter earnings that fell short of analyst expectations but delivered revenue that exceeded forecasts. Brown-Forman posted earnings of $0.12 per diluted share, compared with $0.31 a year earlier and well below the FactSet consensus estimate of $0.33.

However, revenue for the quarter came in at $912 million, up from $894 million a year ago and beating the FactSet estimate of $878.1 million. The stock initially fell more than 1% following the earnings release but subsequently reversed course sharply higher as investors appeared to focus on the revenue beat and growth.

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