Vintage Wine Estates, Inc. produces wine. It offers products through other retail stores. The company was founded in 2007 and is based in Santa Rosa, California.
IPO Year:
Exchange: NASDAQ
Website: vintagewineestates.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/9/2023 | $2.00 → $1.00 | Hold → Sell | Canaccord Genuity |
| 2/9/2023 | $3.50 → $1.50 | Market Perform → Underperform | Telsey Advisory Group |
| 12/9/2022 | $3.50 | Market Perform → Outperform | Telsey Advisory Group |
| 11/10/2022 | $3.00 | Buy → Neutral | DA Davidson |
| 10/4/2022 | $9.00 → $3.00 | Buy → Neutral | DA Davidson |
| 9/14/2022 | $15.00 → $5.50 | Buy → Hold | Canaccord Genuity |
| 9/14/2022 | $12.00 → $6.00 | Outperform → Market Perform | Telsey Advisory Group |
| 8/2/2022 | $10.00 → $9.00 | Buy | Citigroup |
| 9/30/2021 | $16.00 → $14.00 | Outperform | Telsey Advisory Group |
| 7/7/2021 | $15.00 | Outperform | Cowen & Co. |
Chapter 11 filing is intended to enable Company to address debt obligations and pursue asset sales $60.5 million debtor-in-possession financing Sale of Cosentino real property and equipment with proceeds of $10.5 million Vintage Wine Estates, Inc. (NASDAQ:VWE) (the "Company") announced today that the Company and certain of its subsidiaries (such subsidiaries, each a "Debtor," and together with the Company, the "Debtors") filed a voluntary petition for reorganization (collectively, the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). This pr
Vintage Wine Estates, Inc. (NASDAQ:VWE) (the "Company") today announced that the Company and its lender group have amended the amended and restated forbearance agreement dated April 2, 2024 (as amended, the "amended forbearance agreement") to extend the forbearance period to June 4, 2024. The lenders have also agreed to defer the $10 million principal payment previously due at May 15, 2024 to June 17, 2024. Under the amendment to the amended and restated forbearance agreement, the lender group has agreed to not exercise any rights and remedies until June 4, 2024, so long as the Company complies with the terms of the amended forbearance agreement and otherwise remains in compliance with th
Brings extensive experience with financial restructurings, financings, and complex negotiations Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company") today announced the appointment of Steven Strom to its Board of Directors, as of March 28, 2024. As an independent director, Mr. Strom will serve as the Chair of the Finance Committee, which also includes Robert L. Berner III, Mark Harms, Jon Moramarco and Patrick Roney. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240402236199/en/(Photo: Business Wire) "We are excited to add Steven's significant experience in completing challenging financings and financial restruc
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company") today announced that the Company and its lender group have amended the forbearance agreement dated March x, 2024 to extend the forbearance period to May 15, 2024. The lenders have also agreed to the deferral of the $10 million principal payment previously due at March 31, 2024 to May 15, 2024. Kristina Johnston, Chief Financial Officer, commented, "We are continuing productive discussions with our lenders as we work to advance potential asset sales, the monetization of inventory and cost reductions. We believe we have presented a viable business plan that transforms VWE into a much simpler business focused on a sustainable c
Generated $11.9 million in cash from operations in the quarter Granted additional time to regain compliance with Nasdaq minimum bid price listing requirement Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today reported its financial results for the three and six months ended December 31, 2023 ("second quarter fiscal 2024"). Seth Kaufman, President and CEO, commented, "We are intensely focused on our priorities to aggressively execute our turnaround plan as we transform into a nimble, omnichannel wine company that offers a unique portfolio of the highest quality Super Premium+ products in the U.S. Cash generation in the
Leadership accelerating efforts to streamline business model with focus on branded Super Premium+ wine and cider across wholesale and direct-to-consumer ("DTC") channels Measurable progress on monetization of non-core production services and stand-alone DTC platforms to support debt reduction Lenders aligned on turnaround and restructuring plan; forbearance agreement provides time for amendment discussions Planning to report second quarter fiscal 2024 results on March 12, 2024 Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today provided an update on the business to include its progress with restructuring and a
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today announced that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on February 21, 2024, indicating that, because the Company has not filed its Quarterly Report on Form 10-Q for the period ended December 31, 2023 (the "Form 10-Q") within the prescribed time period, the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company's common stock. While the notice provi
Simplifies business with restructuring and reduction of non-core, lower margin product and service offerings To reduce workforce by approximately 15% for annualized savings of an estimated $7.1 million Retained Oppenheimer & Co. to accelerate monetization of non-core assets VWE to significantly narrow focus to a smaller, sustainable core business model with less complexity and stronger underlying economics Increasing focus on a core set of Super Premium+ priority brands while building a data-driven, consumer-centric culture and implementing a disciplined commercial planning process Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producer
Selected to lead consumer-centric growth agenda and foster data-driven culture to define market opportunities, optimize portfolio strategy and strengthen brand desirability in-service of a virtuous marketing cycle Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today announced the appointment of Ryan Watson as Chief Marketing Officer ("CMO"). Mr. Watson joins VWE with nearly 20 years' experience in global, data-driven, consumer-oriented marketing and transformational strategies in both B2B and B2C verticals across a variety of industries. He will begin his duties on January 16, 2024. This press release features multimedia. View
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today announced the appointment of Farzana Shubarna in the newly created role of Vice President of Operations. Ms. Shubarna brings extensive international experience driving value creation from her strategic leadership roles in manufacturing, warehousing, sustainability programs and end-to-end supply chain operations for the fast-moving consumer goods and nutrition industries. "VWE is strategically looking for the highest level of talent in the marketplace today," said Zach Long, Chief Operations Officer, Vintage Wine Estates. "W
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Canaccord Genuity downgraded Vintage Wine Estates from Hold to Sell and set a new price target of $1.00 from $2.00 previously
Telsey Advisory Group downgraded Vintage Wine Estates from Market Perform to Underperform and set a new price target of $1.50 from $3.50 previously
Telsey Advisory Group upgraded Vintage Wine Estates from Market Perform to Outperform and set a new price target of $3.50
DA Davidson downgraded Vintage Wine Estates from Buy to Neutral and set a new price target of $3.00
DA Davidson downgraded Vintage Wine Estates from Buy to Neutral and set a new price target of $3.00 from $9.00 previously
Canaccord Genuity downgraded Vintage Wine Estates from Buy to Hold and set a new price target of $5.50 from $15.00 previously
Telsey Advisory Group downgraded Vintage Wine Estates from Outperform to Market Perform and set a new price target of $6.00 from $12.00 previously
Citigroup resumed coverage of Vintage Wine Estates with a rating of Buy and set a new price target of $9.00 from $10.00 previously
Telsey Advisory Group reiterated coverage of Vintage Wine Estates with a rating of Outperform and set a new price target of $14.00 from $16.00 previously
Cowen & Co. initiated coverage of Vintage Wine Estates with a rating of Outperform and set a new price target of $15.00
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Brings extensive experience with financial restructurings, financings, and complex negotiations Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company") today announced the appointment of Steven Strom to its Board of Directors, as of March 28, 2024. As an independent director, Mr. Strom will serve as the Chair of the Finance Committee, which also includes Robert L. Berner III, Mark Harms, Jon Moramarco and Patrick Roney. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240402236199/en/(Photo: Business Wire) "We are excited to add Steven's significant experience in completing challenging financings and financial restruc
Selected to lead consumer-centric growth agenda and foster data-driven culture to define market opportunities, optimize portfolio strategy and strengthen brand desirability in-service of a virtuous marketing cycle Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today announced the appointment of Ryan Watson as Chief Marketing Officer ("CMO"). Mr. Watson joins VWE with nearly 20 years' experience in global, data-driven, consumer-oriented marketing and transformational strategies in both B2B and B2C verticals across a variety of industries. He will begin his duties on January 16, 2024. This press release features multimedia. View
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today announced the appointment of Farzana Shubarna in the newly created role of Vice President of Operations. Ms. Shubarna brings extensive international experience driving value creation from her strategic leadership roles in manufacturing, warehousing, sustainability programs and end-to-end supply chain operations for the fast-moving consumer goods and nutrition industries. "VWE is strategically looking for the highest level of talent in the marketplace today," said Zach Long, Chief Operations Officer, Vintage Wine Estates. "W
Reassessment of technical accounting matters leads to restatement of fiscal 2023 interim quarterly periods; requires more time to complete year-end filing Expects to file amended 10-Qs and fiscal 2023 10-K, including revisions to fiscal 2022, as soon as practical Seeking covenant relief amendment to credit agreement prior to reporting fiscal 2023 results Confirms Seth Kaufman to join Company on October 30, 2023 as President and CEO Refines fiscal 2023 revenue expectations from $290 million to approximately $280 million with gross margin of approximately 30%; reaffirms preliminary expectations for fiscal 2024 Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), o
INCLINE VILLAGE, Nev., July 20, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, today announced the appointment of Seth Kaufman as President and CEO succeeding Interim CEO, Jon Moramarco, who will continue in his role as a Director. Mr. Kaufman is expected to begin in his position at VWE no later than October 30, 2023. For the last four years, Mr. Kaufman has been President & CEO of Moët Hennessy North America, the $2.5 billion North American wine & spirits business of LVMH (ENXTPA: MC, OTCPK: LVMU.Y). During that time, he has organically grown the b
Preliminary unaudited fiscal 2023 revenue is estimated to be $290 million with gross margin of approximately 30% to 32%Announces preliminary expectations for fiscal 2024 reflecting restructuring benefits and business improvementsSimplification of business and reduced SKUs enables warehouse optimization, improved fulfillment execution and better accountability and productivity expected to drive gross margin expansion of an estimated 700 basis points in fiscal 2024Organizational restructuring and other cost savings expected to result in approximately $20 million reduction in selling, general and administrative expense ("SG&A") for fiscal 2024 Separately announced appointment of Seth Kaufman as
INCLINE VILLAGE, Nev., May 18, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, today announced the appointment of Rodrigo de Oliveira as Vice President Supply Chain. Mr. de Oliveira brings deep domestic and international experience in operations/supply chain leadership, manufacturing product development, organizational restructuring, M&A integration, business turnarounds, and continuous improvements. Much of his experience has been with consumer products businesses. Jon Moramarco, Interim Chief Executive Officer commented, "Rodrigo is an innovative, hi
SANTA ROSA, Calif., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE), a leading beverage alcohol company, today announced that Jessica Kogan has been appointed to Chief Growth & Experience Officer. As part of her newly expanded responsibilities, Ms. Kogan will lead digital transformation initiatives focused on disruptive ways to deepen customer affinity and enable meaningful efficiencies in content publishing. Ms. Kogan will also serve as a member of the Senior Leadership Team of Vintage Wine Estates, providing continued insight and direction specific to omnichannel opportunities. Ms. Kogan joined Vintage Wine Estates in 2017 with the acquisition of Cameron Hughes
SUGAR LAND, Texas, Aug. 9, 2021 /PRNewswire/ -- Team, Inc. ("TEAM") (NYSE:TISI), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, announced today that Candice Koederitz has been appointed to its Board of Directors ("Board"), effective Aug. 9, 2021. "We are excited to add Candice who brings extensive capital markets knowledge and global experience to the TEAM Board of Directors," said Amerino Gatti, TEAM's Chairman and Chief Executive Officer. "Candice's executive leadership at Morgan Stanley as well as her international business expertise will add significant value and her appointment reflects our commitment to ensuring we h
Leadership accelerating efforts to streamline business model with focus on branded Super Premium+ wine and cider across wholesale and direct-to-consumer ("DTC") channels Measurable progress on monetization of non-core production services and stand-alone DTC platforms to support debt reduction Lenders aligned on turnaround and restructuring plan; forbearance agreement provides time for amendment discussions Planning to report second quarter fiscal 2024 results on March 12, 2024 Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S., today provided an update on the business to include its progress with restructuring and a
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today reported its financial results for the first three months of fiscal 2024 ended September 30, 2023 ("first quarter fiscal 2024"). Seth Kaufman, President and CEO commented, "These are exciting times for VWE, and I am pleased to be a part of the journey to turn the business around and define our new direction. While the business is beginning to stabilize, we still have much work to do. We will continue to execute the Five-Point Plan which defines our focus as we work through this transition year. We are intent upon driving im
Seth Kaufman joined VWE as President and CEO on October 30, 2023, and brings extensive leadership experience from large consumer-oriented brand enterprises including his most recent role as President & CEO of Moët Hennessy Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the fastest-growing wine producers in the U.S. with an industry leading direct-to-customer platform, announced today that Seth Kaufman, President and CEO, completed his first week at VWE having joined the Company on October 30, 2023. For the last four years, Mr. Kaufman has been President & CEO of Moët Hennessy North America, the $2.5 billion North American wine & spirits business of LVMH (ENXTPA:
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the fastest-growing wine producers in the U.S. with an industry leading direct-to-customer platform, announced today that it will release its fourth quarter and fiscal year 2023 results after market today. The Company will host a conference call and webcast at 9:00 a.m. on Monday, October 16, 2023, at which management will review the financial and operating results for the periods and to discuss its corporate plans and outlook. A question-and-answer session will follow. Fourth Quarter and Fiscal Year 2023 Conference Call Monday, October 16, 2023 9:00 a.m. ET / 6:00 a.m. PT Phone US: (404) 975-4839, access code 3587
INCLINE VILLAGE, Nev., July 13, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, announced today that it will host a teleconference and webcast on Thursday, July 20, 2023 to update investors on its strategic initiatives and progress with simplifying the business, reducing costs, expanding margins, reducing debt, and preserving cash. The conference call and webcast can be accessed as follows: Thursday, July 20, 20234:45 p.m. ET / 1:45 p.m. PTPhone US: (201) 689-8562Webcast and accompanying slide presentation: ir.vintagewinestates.com An audio r
Revenue in the first nine months of fiscal 2023 increased 3% to $225 million driven by acquisitionsBusiness simplification and operational improvement plan beginning to yield resultsSecond quarter fiscal 2023 non-cash impairment charges of $139.1 million and third quarter fiscal 2023 inventory adjustment of $10.1 million impacted profitabilityEvaluating operational footprint and cost structure to further reduce costs INCLINE VILLAGE, Nev., May 10, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, today reported its fiscal 2023 year-to-date financial
INCLINE VILLAGE, Nev., April 24, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, announced today that it will release its second and third quarter, as well as year-to-date fiscal year 2023 financial results after market close on Wednesday, May 10, 2023. The Company will also file its restated first quarter fiscal 2023 results at that time. Kris Johnston, Chief Financial Officer, commented, "While we had planned on releasing our second quarter results by the end of this month, there were a couple gating factors that resulted in our decision to conso
Separately announced changes to executive leadership and Board of Directors Executing comprehensive business realignment plan to simplify the business, refocus the enterprise and drive profitability Given efforts to realign the business, the Company withdraws previously provided guidance for fiscal 2023 Postpones release of final second quarter fiscal 2023 results to allow time for intangible asset impairment testing Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today announced that it plans to restate its previously issued consolidated financial statements for fi
Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the leading wine producers in the U.S. with an industry leading direct-to-customer platform, announced today that it will release its second quarter fiscal year 2023 results after the close of financial markets on Thursday, February 9, 2023. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. Second Quarter Fiscal 2023 Conference Call and Webcast Thursday, February 9, 2023 4:45 p.m. ET / 1:45 p.m. PT Phone: 1-201-689-8562 Webcast and accompanying slide presentation:
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 guidance for net revenue of approximately $300 million to $310 million and revises expected adjusted EBITDA2
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