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Brown-Forman fiscal Q3 profit falls YOY

Brown-Forman Corp. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS increased year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $161.3 million, a decrease from $166.3 million in the prior-year period.

The normalized profit margin fell to 20.0% from 20.6% in the year-earlier period.

Total revenue totaled $808.0 million, compared with $809.0 million in the year-earlier period, and total operating expenses totaled $534.0 million, compared with $529.0 million in the prior-year period.

Reported net income totaled $182.0 million, or 47 cents per share, compared with $190.2 million, or 47 cents per share, in the prior-year period.