LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Brown-Forman Corporation B (BF.B) on Wednesday reported fiscal first-quarter profit of $231 million.
The Louisville, Kentucky-based company said it had profit of 48 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The company posted revenue of $1.04 billion in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.05 billion.
Brown-Forman B shares have risen 5% since the beginning of the year, while the S&P's 500 index has risen 17%. The stock has decreased slightly more than 8% in the last 12 months.