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Why Jack Daniel's Parent Brown-Forman Shares Are Trading Lower Today

Brown-Forman Corp (NYSE:BF) (NYSE:BF) shares are ticking lower after the company reported fourth-quarter FY24 earnings and provided an outlook. The company reported a fourth-quarter FY24 sales decline of 8% year-on-year to $964 million, missing the analyst consensus estimate of $1.031 billion. EPS of $0.56 beat the analyst consensus estimate of $0.41. The gross margin contracted about 180 basis points Y/Y to 59%. The operating margin expanded 1,040 ...