Brown-Forman, the maker of Jack Daniels' Tennessee whiskey maker sees fourth-quarter results miss forecasts

Brown-Forman Corp. (NYSE:BF.B), the home of Tennessee whiskey maker Jack Daniels has seen its fourth-quarter results miss forecasts, with Finlandia vodka sales  showing a drop.

The US drinks firm saw its fourth-quarter profit fall to US$144mln, or US$0.37 a share, lower than  the US$0.40 a share consensus forecast, and down from US$522mln, or US$1.30 a share in the same period a year earlier.

Brown-Forman’s total sales fell to US$887mln in the fourth quarter, also below the consensus forecast of US$958.2mln, and down from US$933mln a year earlier.

Its net sales were US $694mln, lower than the US$738.9mln consensus forecast and down from US$729mln a year earlier.

Jack Daniel’s family brand full-year sales rose 3%

For the full year, Brown-Forman said Jack Daniel’s family brand sales rose 3%, with Tennessee Whiskey sales rising 3%, Tennessee Honey growing 4% and Tennessee Fire increasing in the mid-teens percentages.

Meanwhile, it added,  El Jimador tequila sales rose 8%, but Finlandia vodka sales fell 1%

The company said it expects current year earnings to be US$1.80 to US$1.90 per share, broadly in line with the consensus forecast for $1.87.

In pre-market trading in New York, Brown-Forman shares were flat at US$52.32, having soared 16.5% higher in the year-to-date.

Story by ProactiveInvestors