Brown-Forman (NYSE:BF.B), the home of Tennessee whiskey maker Jack Daniels, is expected to post slowing sales growth and flat earnings when it releases first-quarter results before the opening bell on August 30, 2023.
Following two years of double-digit organic net sales growth, the US drinks company itself tempered expectations when it released 4Q and full-year 2023 results in June.
It guided investors to expect FY24 growth of 5% to 7%, and Wall Street analysts expect sales to come in at the lower end of that range in its 1Q report, with a 5% gain to $1.05 billion.
According to the Street consensus, earnings per share are expected to come in at $0.53 from $0.52 a year earlier.
For the full year, analysts have pencilled in a profit of $2.07 per share, up from the $1.63 it achieved for FY23.
Ahead of its results, Brown Forman’s Class B shares traded 0.7% higher at $68.84 by midday in New York.
Contact the author at stephen.gunnion@proactiveinvestors.com