Treasury Wine hurt by weak Americas business, posts 42% drop in annual profit
Aug 13 (Reuters) - Australia's Treasury Wine Estates reported a 41. 5% drop in full-year underlying profit on Thursday, weighed by weaker earnings from its Americas division. The Americas business has been a drag on the winemaker's performance as soft. . .
Aug 13 (Reuters) – Australia’s Treasury Wine Estates reported a 41. 5% drop in full-year underlying profit on Thursday, weighed by weaker earnings from its Americas division. The Americas business has been a drag on the winemaker’s performance as soft U. S. demand and distribution disruptions left it with excess inventory, prompting a strategic review and restructuring of the division. Earnings before interest, tax, self-generating and regenerating assets and material items (EBITS) from the Americas division fell 61. 4% to A$90. 2 million ($63. 7 million) in fiscal 2026 from A$233. 4 million a year earlier, while net sales revenue declined 21. 2% to A$575 million. The Penfolds maker reported underlying net profit after tax of A$275. 3 million for the year ended June 30, down from A$470. 6 million a year earlier but ahead of a Visible Alpha consensus estimate of A$262 million. The earnings measure excludes material items and volatility from changes in the value of agricultural assets and harvested grapes. Separately, Treasury Wine booked a A$1. 12 billion impairment charge on its U. S. assets and a further A$611. 3 million charge related to a strategic review of its Americas business and efforts to rebalance its U. S. supply chain. ($1 = 1. 4164 Australian dollars)(Reporting by Roshan Thomas and Sneha Kumar in Bengaluru; Editing by Diti Pujara)