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Yahoo BusinessMar 03, 2021
Stock market news live updates: Futures jump as stocks aim for a rebound


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MarketWatch MarketPulseMar 03, 2021
Jack Daniel's parent Brown-Forman beats earnings estimates for fiscal Q3
Brown-Forman Corp. said Wednesday it had net income of $219 million, or 45 cents a share, in its fiscal third quarter to Jan. 31, down from $231 million, or 48 cents a share, in the year-earlier period. Sales rose to $911 million from $899 million a year ago. The FactSet consensus was for EPS of 43 cents and sales of $902 million. The company said the Jack Daniels family of brands saw sales fall 2% in the year to date, while premium bourbons sales rose 18%. The tequila portfolio's sales rose 2%. "Underlying net sales in Travel Retail continued to be significantly impacted by the continuation of COVID-19 related travel bans and restrictions," the company said in a statement. Brown-Forman is not offering guidance, given the uncertainty created by the pandemic. Shares were not active premarket, but have gained 13% in the last 12 months, while the S&P 500 has gained 29%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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