01:22 PM EST, 03/06/2024 (MT Newswires) -- (Updates with recent stock move in the headline and first paragraph.)

Brown-Forman (BF.A, BF.B) shares fell 9% in recent Wednesday trading as the company's fiscal Q3 sales dipped unexpectedly.

Earlier in the day, the company reported fiscal Q3 earnings of $0.60 per diluted share, up from $0.21 a year earlier. Analysts polled by Capital IQ expected $0.57.

Net sales for the fiscal quarter ended Jan. 31 fell to $1.07 billion from $1.08 billion a year earlier. Analysts surveyed by Capital IQ expected $1.12 billion.