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Willamette Valley Vineyards Q3 sales rise on higher volumes

By Reuters News


Overview

  • Oregon wine producer's Q3 sales rose 6.6% yr/yr on higher direct and distributor volumes

  • Q3 net loss per share after preferred dividends unchanged from prior year at $0.33

  • Company working to reduce costs and balance inventory with market demand


Outlook

  • Company says it is working to make significant cost reductions to restore profitability

  • Willamette Valley Vineyards says it is stabilizing revenues by moving to stronger distributors and internal sales strategies


Result Drivers

  • DISTRIBUTOR SALES - Majority of revenue growth driven by higher sales volumes through distributors

  • HIGHER LABOR COSTS - Increase in selling, general and administrative expenses mainly due to higher labor and benefits

  • COST REDUCTION FOCUS - Co said it is working to make significant cost reductions to return to prior profitability levels


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

$8.90 mln

Q3 Loss Per Common Share After Preferred Dividends

$0.33


Reuters Recommended Reads

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  • Nov 11 - India holds Pernod, Diageo Scotch shipments as investigators seek higher tariff


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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