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Brown-Forman fiscal Q3 profit climbs 6.8% YOY

Brown-Forman Corp. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS rose 7.9% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $166.3 million, a gain of 6.8% from $155.6 million in the year-earlier period.

The normalized profit margin increased to 20.4% from 19.9% in the year-earlier period.

Total revenue grew year over year to $813.0 million from $782.0 million, and total operating expenses climbed on an annual basis to $552.0 million from $529.0 million.

Reported net income rose 5.0% year over year to $185.0 million, or 44 cents per share, from $176.1 million, or 41 cents per share.