Company that makes Jack Daniel’s takes tariff hit
LOUISVILLE, Ky. (AP) — The company that makes Jack Daniel’s took a hit from the Trump administration’s tariff fight, estimating that the standoff dragged sales growth down by a percentage point for the entire year.
Brown-Forman Corp. posted fourth quarter sales of $744 million, which was well short of the $762 million that Wall Street had expected, according to a survey by FactSet.
Net income was $159 million, or 33 cents per share, which topped expectations by 3 cents.
The Louisville, Kentucky, distiller said Wednesday that for the year, it had a profit of $835 million, or $1.73 per share, and revenue of $3.32 billion.