Welcome to our dedicated page for Willamette Vy Vineyard news (Ticker: WVVI), a resource for investors and traders seeking the latest updates and insights on Willamette Vy Vineyard stock.
Willamette Valley Vineyards, Inc. (NASDAQ: WVVI) is a publicly traded Oregon winery known for its focus on Pinot Noir, community ownership model, and direct-to-consumer wine experiences. This news page compiles company-issued updates and market disclosures so readers can follow how the business is evolving across its vineyards, tasting rooms, and distribution channels.
Recent news releases highlight quarterly and annual financial results, including trends in net sales, gross profit, operating expenses, and net income or loss. Management commentary often explains how performance is affected by the balance between direct sales and distributor sales, changes in national distribution through wholesalers, and shifts in consumer demand for premium wines. These earnings updates are accompanied by references to risk factors and links to Form 10-Q and Form 10-K filings on EDGAR for more detail.
Beyond financial results, Willamette Valley Vineyards regularly announces developments related to its hospitality and brand recognition. The company has reported national awards from USA TODAY’s 10Best Readers’ Choice Awards, including being named the #1 Tasting Room in the Nation and having one of the top-ranked wine clubs in the country. News items also describe the expansion of tasting rooms across Oregon, Washington, and California, underscoring the importance of direct-to-consumer engagement.
Corporate governance and capital markets updates are another recurring theme. Press releases cover leadership changes, such as the appointment of Mike Osborn as Chief Executive Officer, and capital initiatives like preferred stock offerings designed to broaden shareholder participation. Investors and wine enthusiasts can use this news feed to monitor dividends on the Series A Redeemable Preferred Stock (WVVIP), ownership offerings, and strategic commentary from management.
For anyone tracking WVVI, this page offers a centralized view of financial announcements, hospitality accolades, ownership initiatives, and other official company communications over time.
Willamette Valley Vineyards (NASDAQ: WVVI) reported Q2 2024 results, showing a slight improvement in loss per common share after preferred dividends, decreasing from $0.08 to $0.07 compared to Q2 2023. Sales revenue decreased by 3.7% to $10,332,358, primarily due to lower distributor sales, partially offset by increased direct sales from a new tasting room. Gross profit margin improved by 4.3 percentage points to 62.6%, driven by higher product prices. Net income increased by 80.7% to $195,978, mainly due to higher pricing. The company faces challenges from changing market conditions, including reduced wine inventories and shelf space reallocation by wholesalers and retailers.
Willamette Valley Vineyards (NASDAQ: WVVI) reported results for Q1 2024. The company posted a net loss of $521,805, a 29.9% improvement from the $744,823 loss in Q1 2023. Loss per common share decreased from $0.25 to $0.22. Revenues increased by 5.9% to $8.8 million, driven by higher direct sales and distributor shipments. Gross profit rose by 17.7% to $5.27 million. However, selling, general, and administrative expenses increased by 7.7%, mainly due to higher legal costs and an additional tasting room. Despite these expenses, the company managed to reduce net losses through higher product prices.
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Willamette Valley Vineyards (NASDAQ:WVVI) reported a significant financial downturn for the year ended December 31, 2022, with a net loss of $646,492, compared to a profit of $2,445,463 in 2021. Loss per common share after preferred dividends decreased to $0.51, a $0.71 decline from the previous year. However, net sales revenue increased to $33.93 million, up 6.8% from $31.79 million in 2021, driven by a strong 18.5% rise in direct sales despite a slight decline in distributor sales. Selling and administrative expenses surged 29.3%, primarily due to the opening of four new tasting rooms, impacting overall profitability.
Willamette Valley Vineyards (NASDAQ: WVVI) reported a net loss of $949,821 for Q3 2022, a significant decline from a profit of $456,191 in Q3 2021. The loss per common share after preferred dividends was $0.29, down $0.31 year-over-year. Sales revenue fell 0.5% to $7,602,878, attributed to decreased distributor sales due to inventory delays. Gross profit also declined by 12.7% to $3,894,183, while SG&A expenses surged by 35.9% to $5,120,218. The CEO noted ongoing challenges due to inventory delays and rising operational costs.
Willamette Valley Vineyards (NASDAQ:WVVI) declared a cash dividend of $.22 per share on its Series A Redeemable Preferred stock (NASDAQ:WVVIP), payable on December 30, 2022. Shareholders must be on record by the close of business on December 7, 2022. The company, a prominent Oregon producer of Pinot Noir, continues to support its shareholders through consistent dividends.
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