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DEERFIELD, Ill. - Distiller Fortune Brands Inc. will report its second-quarter earnings on Friday and investors will be watching to see just how much the slowdown in consumer spending will affect the maker of Jim Beam whiskey.
| FO | 57.77 |  0.15 |
The suburban Chicago-based company said late last month that it expects an earnings-per-share percentage decline in the high teens to mid-20s, before special items.
Previously, Fortune forecast a percentage decline in the high single digits to the mid teens.
In the second quarter of 2007, the company reported a profit of $1.51 per share before special items.
Analysts surveyed by Thomson Financial said they expected the company to earn $1.20 per share in the April-through-June quarter on revenue of $2.05 billion.
Fortune executives have blamed weakening consumer sentiment, a slowing housing market and a hefty Australian tax increase on ready-to-drink spirits for the expected decline in results.
Fortune makes Jim Beam and Makers Mark whiskey, as well as Titleist golf balls and Moen faucets.
During the quarter, which began April 1, shares fell about 10 percent to end the period at $62.41. Shares are down about 14 percent for the year.
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