In other news, Brown-Forman released its fourth quarter and Fiscal 2017 results and they were disappointing to say the least. The Jack Daniel’s maker’s earnings per share dropped 71 percent to $0.38 a share in the three-months ending April 30, 2017. That is down from $1.30 for the same period last year and missed an already lowered analysts’ consensus of $0.41 a share.
For the full year, net sales dropped 3 percent to $2.994 million. The Louisville, KY company blamed foreign exchange, inventory changes, acquisitions and divestitures for the poor performance.