Vintage Wine Estates, Inc. - VWE STOCK NEWS

Vintage Wine Estates, Inc. (NASDAQ: VWE) reported a preliminary fourth quarter revenue of $57 million, marking a 37% increase year-over-year. Fiscal year 2021 preliminary revenue reached $221 million, up 16% from the previous year. The company has postponed its earnings release to September 28, 2021, to finalize yearend financials due to personnel issues and an untimely staff passing affecting their finance department. They anticipate updating investors on strategic progress during the conference call scheduled for September 29, 2021.

Vintage Wine Estates (NASDAQ: VWE) announces the appointment of Russell G. Joy as Chief Operating Officer, effective November 1, 2021. Joy succeeds Jeff Nicholson, who retires on October 29, 2021. With over 20 years of wine industry experience, Joy previously held key roles including General Manager at Napa Wine Company and VP of California operations for Ste. Michelle Wine Estates. CEO Pat Roney highlighted Joy's operational and financial expertise as crucial for the company's growth strategy as VWE continues to expand its direct-to-consumer and wholesale operations.

Vintage Wine Estates (NASDAQ: VWE) has become a founding member of the Sustainable Wine Roundtable (SWR), a coalition aimed at promoting sustainability in the wine industry. This initiative includes over 40 leaders from various sectors, including producers, retailers, and environmental organizations. Erica Landin-Lofving, Chief Sustainability Officer at VWE, emphasized the importance of defining sustainable wine production. The SWR aims to develop global standards and best practices for sustainability, benefiting both wineries and consumers by clarifying eco-labels and sustainability measures.

Vintage Wine Estates (NASDAQ: VWE) has announced a conference call set for September 22, 2021, at 4:30 PM ET to discuss its Fourth Quarter and Fiscal Year 2021 financial results. Investors can join via phone at 844-200-6205 or 646-904-5544 using access code 925261, or through a live webcast available on the Company’s Investor Relations website. Founded 20 years ago, VWE has emerged as a top U.S. wine producer, selling over 2 million nine-liter equivalent cases annually, thanks to an effective omni-channel strategy.

Team, Inc. (NYSE: TISI) has appointed Candice Koederitz to its Board of Directors, effective August 9, 2021. With over 30 years at Morgan Stanley, including leadership roles in capital markets and regulatory implementation, Ms. Koederitz enhances the board's expertise. Amerino Gatti, CEO, expressed enthusiasm for her insights during a time of emerging opportunities. Koederitz currently serves on other boards, including Vintage Wine Estates (NASDAQ: VWE). This appointment reflects Team's commitment to broadening its leadership capabilities to navigate dynamic market conditions.

Vintage Wine Estates (NASDAQ: VWE) announced its participation in the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021. The event will include a fireside chat at 3:30 p.m. Eastern Time, which will be webcast live and available for replay. VWE, recognized as one of the fastest-growing U.S. wine producers, sells over 2 million nine-liter equivalent cases annually and operates a direct-to-consumer sales platform. The company’s diverse portfolio includes over 50 brands, with retail prices primarily ranging from $12 to $20.

Vintage Wine Estates (VWE) announced the acquisition of The Sommelier Company for approximately $8 million. This strategic move aims to enhance VWE's direct-to-consumer sales, which constitute 30% of its net revenue. The Sommelier Company generated over $5 million in net revenue in FY 2020 with an Adjusted EBITDA margin above 60%. The acquisition, expected to be accretive to earnings, will boost VWE's customer outreach through unique wine experiences and consulting services, leveraging The Sommelier Company’s established market presence.

Vintage Wine Estates (NASDAQ: VWE) announces significant leadership appointments, enhancing gender diversity with over 50% of director positions held by women. New roles include Jessica Kogan as Chief Marketing Officer, Erica Landin-Löfving as Chief Sustainability Officer, Holly Hawkins as Vice President of Human Resources, and Mary Ann Vangrin as Vice President of Communications. These appointments aim to drive growth and sustainability initiatives, reinforcing VWE's commitment to gender equality and enhancing its direct-to-consumer strategy.

Vintage Wine Estates, Inc. (NASDAQ: VWE) has reaffirmed its fiscal year 2021 guidance following its business combination with Bespoke Capital Acquisition Corp. The company reported net revenue of $163.7 million and net income of $15.3 million for the nine months ending March 31, 2021, marking a 10% increase in revenue and a 54% growth in Adjusted EBITDA at $30.4 million compared to the previous year. The guidance for fiscal year 2021 estimates pro forma net revenue of $220 million and Adjusted EBITDA of $46 million, accounting for the recently completed Kunde acquisition.