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Brown-Forman Corporation

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Brown-Forman reported lower-than-expected second-quarter fiscal 2016 earnings impacted by soft sales that were offset by a decline in operating expenses. Further, the company indicated that the uncertain global economic environment and its impact on businesses have made it difficult to make future projections. Though the company reiterated its earnings outlook for fiscal 2016, it expects currency headwinds to linger throughout the fiscal, weighing somewhat on its results. However, the company expects growth to be driven by a sturdy demand for authentic American whiskey brands worldwide, consumer interest in flavored whiskey, and a rising trend toward premium spirits. Also, Brown-Forman’s consistent focus on pricing, product innovation and expansion solidify its market position.

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