Willamette Valley Vineyards Q3 sales rise on higher volumes
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 |
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(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.)