Overview
Oregon Pinot Noir producer's Q1 sales rose 9.5% yr/yr, driven by distributor case sales
Net loss for Q1 narrowed 22.5% from prior year, reflecting higher distributor sales
Company cites focus on national distribution and recent management changes for improved results
Outlook
Company did not provide specific guidance or outlook for future quarters or full year
Result Drivers
DISTRIBUTOR SALES - Higher case sales to distributors drove revenue and gross profit growth
DIRECT-TO-CONSUMER DECLINE - Lower wine club and internet revenues led to a decrease in direct sales to consumers
Company press release: ID:nPnbT3k7Ka
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
$8.26 mln
Q1 EPS
-$0.24
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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.)