Premium spirits company, BEAM Inc(BEAM) reported higher earnings for the fourth quarter, beating analysts estimates on Friday.
The Deerfield, IL based company reported fourth quarter earnings of $126.3 million, or 79 cents per share, up 30% from $88.5 million, or 56 cents per share last year. Excluding special items, earnings came in at 67 cents per share for the quarter, beating analysts estimate of 66 cents per share.
Revenue for the quarter was reported at $709.1 million, a 10% increase from $637.5 million last year. Analysts expected to see sales of $704.12 million.
Looking ahead, the company expects FY2013 to be in the high single digits, while analysts are expecting to see EPS of $2.65.
BEAM shares were mostly flat during premarket trading Friday. The stock has increased 16% in the past year.
The Bottom Line
Shares of BEAM Inc(BEAM) have a 1.47% yield, based on Thursday’s closing price of $61.34.
BEAM Inc(BEAM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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