Brown-Forman Corp, sugar daddy to Jack Daniels and a bunch of other brands, has reported better than expected earnings in its most recent quarterly report. The company’s net income was $140.7 million ($.96/share), an increase from $107.9 million ($.73/ share) in the report from a year earlier. Analysts were expecting earnings in the range of $.86/share.
The company cited improvement in the US economy as a contributing factor, as consumers are in a thirstier mood given the improving fiscal picture. Going forward, the company increased its estimates for the year.