Brown-Forman, maker of Jack Daniel’s and Southern Comfort, to report 1Q results Wednesday

Earnings Preview: Brown-Forman

NEW YORK — Liquor company Brown-Forman Corp., whose brands include Jack Daniel’s Tennessee Whiskey and Southern Comfort, reports its first-quarter results before the stock market opens Wednesday.

WHAT TO WATCH FOR: Investors will want to see if signs from last quarter that people were slowly returning to bars continue. People curbed their drinking in bars and restaurants during the recession as they tried to stick to tighter budgets. That has hurt sales for the Louisville, Ky.-based Brown-Forman, which makes brands including Finlandia vodka and Chambord liqueur.

But when fourth-quarter results were announced in June, executives said that drinking in restaurants and bars showed early signs of recovery, although people weren’t spending as much as they had.

Investors also will want to see the company’s plans to push its global footprint. Last quarter Brown-Forman said it saw chances to expand Jack Daniel’s in developed markets such as France and in emerging markets such as Poland, Mexico and Russia.

WHY IT MATTERS: People of all income levels buy Brown-Forman’s brands around the world. The company’s sales results — particularly homing in on drinking in restaurants and bars versus at home — show how people feel about the economy. The more secure and positive they are, the more likely they are to reach for premium brands and venture out to bars and restaurants.

WHAT’S EXPECTED: Analysts polled by Thomson Reuters expect Brown-Forman to earn 84 cents per share on revenue of $758.4 million.

LAST YEAR’S QUARTER: Brown-Forman reported profit of 81 cents per share on sales of $737.9 million.