WASHINGTON (dpa-AFX) - Brown-Forman (BFB, BFA) reported third quarter net income of $270 million, down 6% from prior year. Earnings per share was $0.57 compared to $0.60. Analysts on average expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items. Reported operating income decreased 25% to $280 million, or was up 23% on an organic basis. Net sales were $1.035 billion, down 3% from a year ago. Net sales were up 6% on an organic basis.
The company expects a return to organic net sales and organic operating income growth for fiscal 2025. The company reaffirmed expectations of: organic net sales growth in the 2% to 4% range, and organic operating income growth in the 2% to 4% range.
Shares of Brown-Forman are up 2% in pre-market trade on Wednesday.
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