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Deerfield-Based Beam Reports Record Earnings for 3Q

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    NEWSLETTERS

    Beam Inc., the Deerfield-based makers of such fine spirits as Courvoisier, Jim Beam Rye and Harvey's Bristol Cream has posted its third-quarter financial reports, and it's been a kind quarter: For the first time it's reporting earnings as a standalone liquor company. It split from Fortune Brands Inc. in October, subsequently renaming itself after its flagship brand and getting a snappier ticker symbol: BEAM.

    Other encouraging developments this quarter include:

    • Net income for Beam was $83.4 million, or $0.53 per diluted share, up 13% from $0.47in the year-ago quarter, benefiting partly from lower year-over-year interest expense.  
    • Net sales were $707.3 million, up 10%.
    • On a comparable basis - excluding excise taxes and adjusting for foreign exchange, acquisitions/divestitures, and the ongoing impact of the new Australia spirits distribution agreement - total net sales would have been up 12%.
    • Operating income was $142.4 million, up 4%. 

    Have a drink, Beam. You've earned it. But, you know, responsibly.

    Read the full report here.