Brown-Forman Reports Year-to-Date Results; Revises Full-Year Outlook

LOUISVILLE, Ky.--(BUSINESS WIRE)--Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) reported financial results for its third quarter and nine months ended January 31, 2020. For the third quarter, the company’s reported net sales1 were essentially flat at $899 million (+3% on an underlying basis2) compared to the same prior-year period. Reported operating income decreased 5% to $304 million (+5% on an underlying basis) and diluted earnings per share rose 2% to $0.48.