Jack Daniel's maker misses Street 2Q forecasts

Friday, November 27, 2015, Vol. 39, No. 48

LOUISVILLE, Ky. (AP) — Brown-Forman Corp. (BF.B) on Wednesday reported fiscal second-quarter profit of $200 million.

The Louisville, Kentucky-based company said it had profit of 97 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The liquor company that makes Jack Daniel's and other brands posted revenue of $854 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $859.3 million.

Brown-Forman expects full-year earnings to be $3.40 to $3.60 per share.

Brown-Forman shares have climbed 18 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has climbed almost 9 percent in the last 12 months.