It has been about a month since the last earnings report for BrownForman Corporation (BF.B). Shares have lost about 4.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is BrownForman Corporation due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Brown-Forman Q1 Earnings & Sales Top Estimates
Brown-Forman reported first-quarter fiscal 2021 results, wherein earnings and sales beat the Zacks Consensus Estimate. Moreover, earnings improved significantly year over year driven by strong volume performance as well as cost discipline. Meanwhile, the impact of the coronavirus outbreak on the on-premise channel continued to mar the top line.
Given the unpredictable nature of the crisis, the company did