Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) reported financial results for its first quarter of fiscal 2019, ended July 31, 2018. For the first quarter, the company’s reported net sales1 increased 6% to $766 million (+9% on an underlying2 basis) compared to the same prior-year period. In the quarter, reported operating income increased 7% to $264 million (+10% on an underlying basis) and diluted earnings per share grew 12% to $0.41.
First Quarter Fiscal 2019 Highlights
Underlying net sales grew 9% (+6% reported), with broad-based geographic3 and balanced portfolio contribution:
Developed international markets grew underlying net sales by 16% (+12% reported), emerging markets grew underlying net sales by 11% (+7% reported), and the United States grew underlying net sales by 2% (0% reported)
The Jack Daniel’s family of brands grew underlying net sales 10% (+7% reported), including 8% underlying net sales growth (+5% reported) for Jack Daniel’s Tennessee Whiskey
The company’s super-premium American whiskey brands grew underlying net sales +25% (+24% reported), including 29% underlying net sales growth from Woodford Reserve (+30% reported)
Herradura and el Jimador grew underlying net sales 10% and 11%, respectively (+11% and +10%, reported)
Underlying operating income grew 10% (+7% reported)
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