Brown-Forman's stock, Jack Daniels' parent company, fell on June 5th 5.9% to a new 52-week low after reporting disappointing fiscal fourth-quarter revenue.

‍

The alcohol seller posted $964 million in revenue for the period, below the $1.03 billion expected by analysts.

‍

The FactSet consensus was for earnings per share of 41 cents and sales of $1.028 billion.

‍

"While our fiscal 2024 organic results reflect the inventory reductions across the entire spirits value chain, when you adjust for the changes in distributor inventory, we feel good about the results we delivered and are confident in the strength of our strategy, brands and business," CEO Lawson Whiting said in prepared remarks.

‍

For all of fiscal 2024, Jack Daniel's Tennessee Whiskey saw net sales fall 6%, while Diplomático rum and Gin Mare drove the rest of the portfolio's net sales growth of 61%.

‍

Net sales at the new mix segment rose 32%.

‍