In this Dec. 5, 2011, file photo, bottles of Jack Daniel's Tennessee Whiskey line the shelves of a liquor outlet in Montpelier, Vt.

Toby Talbot/AP Photo, File

Trade war comes to Louisville, Jack Daniels takes tariff hit

June 05, 2019 - 10:46 am
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LOUISVILLE, Ky. (AP) — The company that makes Jack Daniels 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.

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Portions of this story were generated by Automated Insights using data from Zacks Investment Research. 

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