Australia's Treasury Wine climbs to 8-month high on US supply chain revamp

Treasury Wine Estates

10/08/2026 01:32

** Shares of Treasury Wine Estates TWE.AX rise as much as 7.9% to A$5.860, their highest level since December 3, 2025
** Stock marks its biggest intraday pct jump since June 4, 2026
** TWE stock among top percentage gainers in the ASX200 benchmark index .AXJO
** Penfolds winemaker says it will reduce the size of its U.S. North Coast vintages from 2026, and write down inventory, mainly bulk wine
** TWE to recognise additional post-tax charge of A$558.4 million ($394.40 million) in FY26 results
** Forecasts FY26 EBITS at A$492.3 million, topping prior outlook range of A$480 to 490 million, and VA consensus of A$452.6 million
** RBC Capital Markets analyst Michael Toner called it a "positive update"; 
** TWE stock up 7.1% this year, including the day's move 

($1 = 1.4158 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com))