Jack Daniel's And Old Forester Parent Brown-Forman Stock Soars Thursday - Here's Why

Brown Forman Inc. (NYSE: BF-B) (NYSE: BF-A) shares are trading higher on Thursday after the company reported better-than-expected second-quarter financial results.

The company reported second-quarter earnings per share of 55 cents, beating the street view of 51 cents.

Quarterly sales of $1.095 billion (down 1% year-over-year) beat the analyst consensus estimate of $1.076 billion. Sales rose 3% on an organic basis.

Net sales declines in the year’s first half were primarily due to the Finlandia and Sonoma-Cutrer divestitures.

Operating income rose 1% to $341 million ...

Full story available on Benzinga.com