We recently published 12 Latest Stocks Jim Cramer Discussed. Brown-Forman Corporation (NYSE:BF-B) is one of the stocks Jim Cramer recently discussed.
Brown-Forman Corporation (NYSE:BF-B) is the struggling alcoholic beverages firm whose shares have lost 18% year-to-date on the back of a massive 17.9% dip in June. The shares fell after the firm’s quarterly report saw its $894 million in revenue miss $967 million in analyst estimates and its $0.31 EPS miss estimates of $0.34.
“In this country we once had prohibition, I’m beginning to think we now have self-prohibition. There’s a Gallup poll, talking about American self-reported drinking down 54% after consecutive declines. Believe moderate drinking is bad for health. The Gen Zs aren’t drinking. . . .Beer remains America’s favorite booze, I’m not going to go into beer stocks, . . .But I do think that there has been a little bit of a bounce in . . .Brown-Forman, and that’s a good opportunity to exit. Because this is a mocktail era. People are, I mean it really is temperance. And there are a lot of people who feel that even red wine, they finally got rid of that canard. So be careful in the liquor story because its just not getting better, it’s getting worse.”
Here’s what Cramer said about Brown-Forman Corporation (NYSE:BF-B) after the earnings report:
“But the worst one, Brown-Forman, the maker of Jack Daniel’s, which reported a truly terrible quarter. Although if you read the press release propaganda, you might have thought everything’s fabulous. Of course, when you look at the stock, which plummeted nearly 18% today, you’ll notice that it finished even worse than Tesla stock, which is saying something given the war of words between Elon Musk and President Trump, one of the worst spitball competitions I have ever seen.
There’s the brand issue. Somehow, Jack Daniel’s just isn’t selling as, the way as it used to. Hey, by the way, same goes for their biggest tequilas, like el Jimador and Herradura, two mainstays that both declined 13% in the fiscal year that just ended in April.
