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VOL. 42 | NO. 34 | Friday, August 24, 2018

Brown-Forman posts higher profit in 1st quarter

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LOUISVILLE, Ky. (AP) — Brown-Forman Corp. on Wednesday reported fiscal first-quarter net income of $200 million.

On a per-share basis, the Louisville, Kentucky-based company said it had profit of 41 cents.

The liquor company that makes Jack Daniel's and other brands posted revenue of $766 million in the period.

Brown-Forman expects full-year earnings to be $1.65 to $1.75 per share.

Brown-Forman shares have dropped 2.5 percent since the beginning of the year. The stock has climbed 25 percent in the last 12 months.

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