B-F Q3 Results Below Expectations, But Optimistic for the Long Term

Dear Client: Brown-Forman reported a global net sales increase of 3% for the first nine months ended January 31. The results were slightly below historical norms and below the company's expectations, "largely driven by multiple short-term disruptions coming together in one fiscal year," said chief Lawson Whiting on this morning's earnings call. But the company is optimistic about the future. Lawson noted on the call that the company is celebrating its 150th anniversary this year. In that time, they've dealt with prohibition,