02:35 PM EST, 12/05/2024 (MT Newswires) -- Shares of Brown-Forman (BF.A, BF.B) jumped intraday Thursday after the wine and spirits maker reiterated its full-year outlook, saying it continued to expect its performance to accelerate in the second half of the year.

The parent of Jack Daniel's whiskey expects organic sales growth of 2% to 4% in fiscal 2025, implying a return to growth amid gains in international markets and normalizing inventory trends.

In fiscal 2024, reported and organic revenue declined 1% to $4.2 billion. Analysts surveyed by FactSet are modeling for revenue of $4.11 billion in the ongoing year. Class A and B shares of Brown-Forman were up around 10% each in afternoon trade.

"We're still operating in a highly dynamic environment with many uncertainties," Chief Executive Lawson Whiting told analysts on a conference call, according to a FactSet transcript. "Even so, with all we know today, we continue to expect our second half to be stronger than the first."

Truist Securities said in a note that the results support its "cautious optimism that turbulence in the spirits industry has stabilized" and should calm investor fears about the American whiskey category.

The company continues to anticipate fiscal 2025 organic operating income growth in the 2% to 4% range this year, though it now expects lower capital expenditures at $180 million to $190 million from a prior view of $195 million to $205 million.

For the fiscal second quarter ended Oct. 31, Brown-Forman's earnings per share climbed to $0.55 from $0.50 a year earlier. Revenue was largely flat at $1.1 billion, compared with the $1.07 billion average analyst estimate on FactSet.