Beam Reports Higher Sales for 3Q
Spirits company Beam (NYS: BEAM) reported its 3Q results today. According to the company's official press release, its net sales totaled $627.5 million, with net income of $76.5 million ($0.47 per share). Those figures were 8% higher and 82% lower, respectively, on a year-over-year basis. However, 3Q 2011's net income was distorted by a nearly $500 million gain from discontinued operations, without which the company would have posted a loss.
Analysts polled by Thomson Reuters had anticipated sales of $607 million, and an EPS of $0.55 per share. The company pointed out in its press release that diluted EPS from continuing operations came in at $0.57 for the quarter.
Beam's signature product is Jim Beam whiskey. The company has a range of liquor brands across all categories. This portfolio includes Maker's Mark whisky, Curvoisier cognac, and Sauza tequila.
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