(Reuters) -Jack Daniel’s manufacturer, Brown Forman, missed Wall Street estimates for the third quarter of Wednesday. In particular, the demand for whiskey and tequila was especially hurt in the United States.
Despite the sales miss, the company’s shares increased 7% in the initial transaction.
Liquor producers have reaffirmed the 2025 fiscal year and organic net sales forecasts. It has not stated whether the US tariffs are on the achievements.
Brown-Forman said that the operating environment is continuing due to the designated uncertainty and the global macroeconomic conditions.
The company is out of demand from the US, Canada and Europe, which offset the benefits of powerful sales in emerging markets such as Mexico and Poland.
Meanwhile, 25%of US tariffs on imports between Canada and Mexico have doubled to 20%on Tuesday.
Brown Forman conducted cost reduction measures and analysts said that it was a more difficult environment for both the company and a wider mental industry.
Last month, the company announced a 12%decrease in global manpower, closed the Louisville Cooperative plant, and saved the company from $ 70 million to $ 80 million every year.
According to the data compiled by LSEG, the quarterly sales, which ended on January 31 on January 31, recorded $ 10.4 billion compared to $ 10 billion compared to the analyst’s estimates, compared to $ 110 billion, down 3% from a year ago.
On the adjusted basis, the company obtained 43 cents per share for the reported branches and missed 46 cents.
The annual net sales increase and organic operating income from 2% to 4% are expected to increase from 2% to 4%.
(Report of Aamir sohail in Bengaluru; Edit of Shailesh Kuber)
