Brown-Forman Corporation (NYSE:BF) (NYSE:BF) stock traded higher Thursday after the spirits maker reported fourth-quarter results that topped revenue expectations, though earnings fell short of Wall Street estimates.
The Louisville, Kentucky-based company, whose brands include Jack Daniel's, Old Forester, Woodford Reserve, Herradura and Korbel, reported fourth-quarter net sales of $912 million, up 2% from a year earlier and ahead of analyst estimates of $883.8 million.
Organic net sales also increased 2%.
Operating income fell 53% year over year to $96 million.
On an organic basis, operating income was unchanged.
