Daily Archives: March 7, 2017

FX headwinds continue to be a drag on Brown-Forman’s earnings in Q3

American spirits maker Brown-Forman Corp, on Tuesday reported a 4% drop in third quarter net income to $182m, continuing a downward trend that has been going on since the first quarter.

The maker of Jack Daniel’s Tennessee Whiskey said that its profit was dragged down by lost revenue from the sale two brands – Southern Comfort and Tuaca in January 2016. The company also cites unfavourable foreign exchange translations in emerging markets as a reason for the poor earnings. The company makes 60% of its revenue from overseas markets.