Brown-Forman Corporation (NYSE:BF-B) shares rose more than 7% on Thursday following the company’s Q3 results, with EPS of $0.54 coming in better than the consensus estimate of $0.48. Net sales increased 14% year-over-year to $1,037 million, beating the consensus estimate of $1,005 million.

Jack Daniel’s Tennessee Whiskey grew 20% year-over-year organically over the first 9 months of fiscal 2022, implying Q3 organic growth of 30% year-over-year. This exceptional growth was one of the key drivers for the company’s increased 2022 guidance, given the growth was broad-based and supported by the reopening of the on-trade channel. The company now expects 11-13% year-over-year organic net sales growth (vs. Street’s 8.5%) and 12- 16% year-over-year organic operating income growth.