US Market News
3週前
Willamette Valley Vineyards Posts Results for Q1 2026May 13, 2026 6:21 PM
PR Newswire (US) SALEM, Ore., May 13, 2026 /PRNewswire/ -- Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) (the "Company"), a leading Oregon producer of Pinot Noir, generated a loss per common share after preferred dividends of $0.24 and $0.26 for the three months ended March 31, 2026 and 2025 respectively, a decrease of $0.02, for the three month period ended March 31, 2026 over the same three month period in the prior year. Sales revenue for the three months ended March 31, 2026 and 2025 was $8,256,153 and $7,541,583, respectively, an increase of $714,570, or 9.5%, in the current year period over the prior year period. This increase was caused by an increase in revenues from distributor sales of $797,678, being partly offset by a decrease in direct sales to consumers of $83,108 in the current year's three-month period over the same period in the prior year. The increase in revenue from distributors was primarily attributed to higher case sales in the current year three-month period over the same period in the prior year. The decrease in direct sales to consumers was primarily the result of lower wine club and internet revenues.Gross profit for the three months ended March 31, 2026 and 2025 was $5,029,064 and $4,759,108, respectively, an increase of $269,956, or 5.7%, in the first quarter of 2026 over the same quarter in the prior year. This increase was primarily the result of an increase in sales through distributors.Selling, general and administrative expenses for the three months ended March 31, 2026 and 2025 was $5,706,858 and $5,629,086, respectively, an increase of $77,772, or 1.4%, in the current quarter over the same quarter in the prior year. This increase was primarily the result of an increase in selling expenses of $116,135, or 2.9% being partly offset by a decrease in general and administrative expenses of $38,363, or 2.3% in the current quarter compared to the same quarter last year.Net loss for the three months ended March 31, 2026 and 2025 was $565,073 and $728,981, respectively, a decrease of $163,908 or 22.5%, in the first quarter of 2026 over the same quarter in the prior year. The decrease in net loss for the first quarter of 2026, compared to the comparable period in 2025, was primarily the result of higher case sales to distributors in 2026.Jim Bernau, Founder and President of the Company "I believe this first quarter reflects the Company's aggressive response to the challenges in national distribution. Our new CEO Mike Osborn has beefed up the professional staff of our national sales team and promoted Brittany Galego of HR to lead operations, giving him more focused time with wholesalers."For a complete discussion of the Company's financial condition and operating results for the first quarter 2026, see our Form 10-Q for the three months ended March 31, 2026, as filed with the United States Securities and Exchange Commission on EDGAR. Willamette Valley Vineyards, Inc. is headquartered at its Estate Vineyard near Salem, Oregon. The Company's common stock is traded on NASDAQ (WVVI).This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, referred to as the "Securities Act", and Section 21E of the Securities Exchange Act of 1934, as amended, referred to as the "Exchange Act". These forward-looking statements involve risks and uncertainties that are based on current expectations, estimates and projections about the Company's business, and beliefs and assumptions made by management. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates", "predicts," "potential," "should," or "will" or the negative thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to: availability of financing for growth, availability of adequate supply of high quality grapes, successful performance of internal operations, impact of competition, changes in wine broker or distributor relations or performance, impact of possible adverse weather conditions, impact of reduction in grape quality or supply due to disease or smoke from forest fires, changes in consumer spending, the reduction in consumer demand for premium wines, and the revenues or costs for any of our tasting rooms and restaurants exceeding our expectations. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic economic conditions.Many of these risks as well as other risks that may have a material adverse impact on our operations and business, are identified in Item 1A "Risk Factors" in our Annual Report on Form 10-K. The following is the Company's Statement of Operations for the three months ended March, 31, 2026 compared to the three months ended March 31, 2025:
Three months ended
March 31,
20262025
SALES, NET
$ 8,256,153$ 7,541,583COST OF SALES
3,227,0892,782,475
GROSS PROFIT
5,029,0644,759,108
OPERATING EXPENSES:
Sales and marketing4,083,8453,967,710
General and administrative1,623,0131,661,376
Total operating expenses5,706,8585,629,086
LOSS FROM OPERATIONS(677,794)(869,978)
OTHER INCOME (EXPENSE)
Interest expense, net(287,313)(298,221)
Other income, net206,620142,476
LOSS BEFORE INCOME TAXES(758,487)(1,025,723)
INCOME TAX BENEFIT 193,414296,742
NET LOSS
(565,073)(728,981)
Accrued preferred stock dividends(606,071)(563,177)
LOSS APPLICABLE TO COMMON SHAREHOLDERS$ (1,171,144)$ (1,292,158)
Loss per common share after preferred dividends,
basic and diluted$ (0.24)$ (0.26)
Weighted-average number of
common shares outstanding, basic and diluted4,979,5294,964,529
View original content to download multimedia:https://www.prnewswire.com/news-releases/willamette-valley-vineyards-posts-results-for-q1-2026-302771597.htmlSOURCE Willamette Valley Vineyards Original: Willamette Valley Vineyards Posts Results for Q1 2026
US Market News
2月前
Willamette Valley Vineyards Posts Results for 2025March 24, 2026 5:47 PM
PR Newswire (US)
SALEM, Ore., March 24, 2026 /PRNewswire/ -- Willamette Valley Vineyards, Inc. (NASDAQ: WVVI) (the "Company"), a leading Oregon producer of Pinot Noir, generated a loss per common share after preferred dividends of $0.64 and $0.48 for the years ended December 31, 2025 and 2024, respectively, an increase of $0.16, or 33.3%, for the year ended December 31, 2025 over the prior year period. The reason for this increase was a higher net loss in 2025 compared to 2024.
The Company had net sales revenues of $37,197,122 and $39,782,442 for the years December 31, 2025 and 2024, respectively, a decrease of $2,585,320, or 6.5%, for the year ended December 31, 2025 over the prior year period primarily as a result of a decrease in revenue from direct sales, net of excise taxes, of $1,013,762, or 4.8% in 2025 compared to 2024, and a decrease in revenue from sales to distributors of $1,571,558 or 8.5% in 2025 compared to 2024.Gross profit was $22,492,520 and $24,195,456 for the years ended December 31, 2025 and 2024, respectively, a decrease of $1,702,936 or 7.0%, for the year ended December 31, 2025 over the prior year period. This decrease was primarily the result of lower sales revenues in 2025 compared to the prior year.Selling, general and administrative expenses were $23,928,692 and $23,623,598 for the years ended December 31, 2025 and 2024, respectively, an increase of $305,094, or 1.3%, for the year ended December 31, 2025 over the prior year period. This increase was primarily as a result of higher selling costs in 2025.Income(loss) from operations was $(1,436,172) and $571,878 for the years ended December 31, 2025 and 2024, respectively, a decrease of $2,008,030, for the year ended December 31, 2025 compared to the prior year period. This decrease was primarily the result of lower sales and higher selling expenses in 2025.Jim Bernau, Founder and President of the Company said ""The challenges our wholesalers are facing are negatively impacting our shipments to them. We are making some distributor changes requiring inventory transfers and training new distributor sales teams. We are also seeing a decline in consumer visitations at our retail locations and are focusing on improving customer experiences which are intended to help us derive the highest retail performance possible."For a complete discussion of the Company's financial condition and operating results, see our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the United States Securities and Exchange Commission on EDGAR. Willamette Valley Vineyards, Inc. is headquartered at its Estate Vineyard near Salem, Oregon. The Company's common stock is traded on NASDAQ (WVVI).This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, referred to as the "Securities Act", and Section 21E of the Securities Exchange Act of 1934, as amended, referred to as the "Exchange Act". These forward-looking statements involve risks and uncertainties that are based on current expectations, estimates and projections about the Company's business, and beliefs and assumptions made by management. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates", "predicts," "potential," "should," or "will" or the negative thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to: availability of financing for growth, availability of adequate supply of high quality grapes, successful performance of internal operations, impact of competition, changes in wine broker or distributor relations or performance, impact of possible adverse weather conditions, impact of reduction in grape quality or supply due to disease or smoke from forest fires, changes in consumer spending, the reduction in consumer demand for premium wines, and the revenues or costs for any of our four new tasting rooms and restaurants exceeding our expectations. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic economic conditions.Many of these risks as well as other risks that may have a material adverse impact on our operations and business, are identified in Item 1A "Risk Factors" in our Annual Report on Form 10-K. The following is the Company's Statement of Operations for the year ended December 31, 2025 compared to the year ended December 31, 2024:
Year ended
December 31,
2025
2024
SALES, NET
$ 37,197,122
$ 39,782,442COST OF SALES14,704,602
15,586,986
GROSS PROFIT22,492,520
24,195,456
OPERATING EXPENSES:
Sales and marketing17,435,201
17,119,837
General and administrative6,493,491
6,503,761
Total operating expenses23,928,692
23,623,598
INCOME (LOSS) FROM OPERATIONS(1,436,172)
571,858
OTHER INCOME (EXPENSE)
Interest expense, net(1,167,722)
(1,016,180)
Other income, net1,394,628
99,629
LOSS BEFORE INCOME TAXES(1,209,266)
(344,693)
INCOME TAX BENEFIT 291,581
226,799
NET LOSS
(917,685)
(117,894)
Preferred stock dividends(2,252,941)
(2,252,941)
LOSS APPLICABLE TO COMMON SHAREHOLDERS$ (3,170,626)
$ (2,370,835)
Loss per common share after preferred dividends,
basic and diluted$ (0.64)
$ (0.48)
Weighted-average number of
common shares outstanding, basic and diluted4,970,118
4,964,529
View original content to download multimedia:https://www.prnewswire.com/news-releases/willamette-valley-vineyards-posts-results-for-2025-302724016.htmlSOURCE Willamette Valley Vineyards
Original: Willamette Valley Vineyards Posts Results for 2025
US Market News
4月前
Willamette Valley Vineyards Announces Organizational Changes to its Distribution and Sales StrategiesFebruary 10, 2026 9:38 AM
PR Newswire (US)
These key adjustments support East Coast sales and brand representation across the country SALEM HILLS, Ore., Feb. 10, 2026 /PRNewswire/ -- Willamette Valley Vineyards (NASDAQ: WVVI, WVVIP) announced today that it has made significant changes to its distribution in major states on the East Coast, including aligning its distribution in New York State and the Mid-Atlantic region with Republic National Distributing Company (RNDC).
This Mid-Atlantic change aligns Maryland and the District of Columbia with the company's existing relationship in Virginia. The transition to utilize RNDC's expansive network within New York State positions the winery to reach new and existing consumers in this essential market."Through its partnership with the Opici family over the past four years, RNDC has made significant investments in the New York State market, more than doubling its sales force and adding full state coverage with its new Syracuse warehouse. We are excited about the opportunity ahead to strengthen our presence in this critical market for Oregon wine and our flagship Pinot Noir varietal," said Willamette Valley Vineyards CEO Michael Osborn."We value partners who share our commitment to quality, innovation, and building brands with intention," said Joel Polichene, State Executive Vice President of Maryland, Virginia, and Washington D.C. at Republic National Distributing Company. "Willamette Valley Vineyards reflects those principles, and we're energized by the opportunity to deepen their reach across key East Coast and Mid - Atlantic markets through the strength of our local teams."Willamette Valley Vineyards also announced two additions to its national sales division and a reorganization of its sales team into five regions. Robert Goodrich joined the company as Eastern Region Sales Director, bringing more than 15 years of experience in wine distribution and supplier sales, most recently serving as Regional Director of Chains for Ste. Michelle Wine Estates. Jimmy Lewis was named California Sales Manager and joined the company with more than 30 years of experience representing California wineries, wholesale distribution, and an earlier culinary career.They join the team led by Senior Director of National Sales Rebecca Geschwender, alongside Shelli Fowler, Central Region Sales Director; Tyler Voorhies, West Region Sales Director; and Chelsie Jewell, who manages the winery's significant local Oregon business."Willamette Valley Vineyards remains focused on innovation and identifying new, strategic points of distribution, particularly at the national level," adds Osborn. "To support this focus, we have organized our internal team and, on a market-by-market basis, selected the selling organizations best suited to share our passion for Oregon wines with our retail and restaurant partners."Furthermore, the company has transitioned its Pennsylvania representation to Southern Glazer's Wine & Spirits, effective immediately. These refinements within the winery's distribution relationships and sales team re-arrangement will allow Willamette Valley Vineyards to continue serving its consumer base effectively, drive meaningful growth and strengthen our market position. About Willamette Valley Vineyards Founded in 1983 by President Jim Bernau with the dream of creating world-class Pinot Noir while serving as stewards of the land, Willamette Valley Vineyards has grown from a bold idea into one of the region's leading wineries, earning the title "One of America's Great Pinot Noir Producers" from Wine Enthusiast Magazine. In addition, all vineyards have been certified sustainable by the LIVE and Salmon-Safe programs. With 1,000 acres under vine, Willamette farms its Estate winery in the Salem Hills, sparkling winery Domaine Willamette in the Dundee Hills, pioneering Tualatin Estate Vineyard near Forest Grove and Elton Vineyard in the Eola-Amity Hills. The winery has expanded recently to include nine tasting rooms in Oregon, Washington and California – growth made possible by the stock ownership of many wine enthusiasts. About Republic National Distributing Company As a leading beverage alcohol distributor specializing in wine and spirits, RNDC brings the industry's brightest talent together to ignite opportunity for suppliers, customers, and associates. Through strong relationships across the on- and off-premise, RNDC helps build brands, drive execution, and connect products with the consumers they are intended to serve. Guided by a commitment to excellence, collaboration, and long-term partnership, RNDC is focused on being the most valuable partner to all we serve.With roots extending before Prohibition and a forward-looking approach to distribution, RNDC operates within the three-tier system at the intersection of craft, scale, and execution. The company works in the rare space where passion for the category meets unrelenting quality, continuously raising the bar for beverage alcohol distribution and delivering meaningful value across the industry. To learn more, visit www.rndc-usa.com or contact Kanchan Kinkade, Vice President, Corporate Communications, at Kanchan.Achar@rndc-usa.com. Press Contacts: Courtney Conte
Colangelo & Partners
cconte@colangelopr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/willamette-valley-vineyards-announces-organizational-changes-to-its-distribution-and-sales-strategies-302682027.htmlSOURCE Willamette Valley Vineyards
Original: Willamette Valley Vineyards Announces Organizational Changes to its Distribution and Sales Strategies