Particle.news
Download on the App Store
3 ARTICLES
·
2h ago

Treasury Wine Pauses A$200 Million Buyback, Withdraws 2026 Outlook on China, U.S. Weakness

Sliding Penfolds depletion in China has left earnings targets uncertain, with product now being redirected to other markets.

Image
A bottle of Penfolds Grange wine, one of the brands from the Treasury Wines group, is selected at a Sydney boutique wine store, February 15, 2016. REUTERS/Jason Reed/File Photo
Image

Overview

  • The repurchase program announced in August was halted after roughly 15% was completed.
  • Treasury scrapped group EBITS guidance for fiscal 2026 and dropped previously flagged Penfolds growth targets for fiscal 2026 and 2027.
  • In China, Penfolds depletion stayed below plan as large banquets gave way to smaller gatherings, dampening expected demand.
  • A distributor transition in California is disrupting Treasury Americas, leading the company to withdraw its modest EBITS growth outlook for that unit.
  • Shares fell as much as 14% to the lowest level since September 2015, with Sam Fischer set to take over as CEO from Tim Ford later this month.