Vintage Wine Estates, Inc. (VWE) Misses Q1 EPS by 3c

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Go back to Vintage Wine Estates, Inc. (VWE) Misses Q1 EPS by 3c

Vintage Wine Estates Net Revenue Grew 40% to $77.9 Million in First Quarter Fiscal 2023

November 9, 2022 4:05 PM EST

Net revenue grew $22.2 million driven by double digit growth in all business segments including contributions from acquisitions; Organic net revenue grew 13% DTC revenue grew 37% driven by double digit organic growth in QVC and Wine Club channels; Tasting Room traffic increased nearly 10% versus prior yearThe acquired ACE Cider Business delivered record volume performance driven by ongoing category growth   and production efficiencies achieved since acquisitionNet income was $0.6 million; adjusted net income was $2.7 million and adjusted EBITDA1 was $5.1 million Reaffirms fiscal 2023... More