Willamette Valley Vineyards - WVVI STOCK NEWS

Willamette Valley Vineyards (NASDAQ:WVVI), an Oregon-based Pinot Noir producer, has announced a cash dividend of $0.22 per share on its Series A Redeemable Preferred stock (NASDAQ:WVVIP). The dividend will be paid on December 31, 2024, to shareholders of record as of December 6, 2024. Future dividend payments will require board approval and will be determined according to the terms outlined in the Amended and Restated Certificate of Designation for the Series A Redeemable Preferred Stock.

Willamette Valley Vineyards (NASDAQ: WVVI) reported Q2 2024 results, showing a slight improvement in loss per common share after preferred dividends, decreasing from $0.08 to $0.07 compared to Q2 2023. Sales revenue decreased by 3.7% to $10,332,358, primarily due to lower distributor sales, partially offset by increased direct sales from a new tasting room. Gross profit margin improved by 4.3 percentage points to 62.6%, driven by higher product prices. Net income increased by 80.7% to $195,978, mainly due to higher pricing. The company faces challenges from changing market conditions, including reduced wine inventories and shelf space reallocation by wholesalers and retailers.

Willamette Valley Vineyards (NASDAQ: WVVI) reported results for Q1 2024. The company posted a net loss of $521,805, a 29.9% improvement from the $744,823 loss in Q1 2023. Loss per common share decreased from $0.25 to $0.22. Revenues increased by 5.9% to $8.8 million, driven by higher direct sales and distributor shipments. Gross profit rose by 17.7% to $5.27 million. However, selling, general, and administrative expenses increased by 7.7%, mainly due to higher legal costs and an additional tasting room. Despite these expenses, the company managed to reduce net losses through higher product prices.

Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) reports a loss per common share after preferred dividends, with increased net sales revenues in 2023 compared to 2022. Gross profit and operating expenses also saw notable changes, influenced by factors like direct sales and tasting room sales.

Willamette Valley Vineyards, Inc. (NASDAQ: WVVI) reported a decrease in loss per common share and an increase in sales revenue for the three months ended September 30, 2023, compared to the same period in 2022. The increase in revenue was attributed to higher sales through distributors and direct sales to consumers. Gross profit also saw a significant increase, while selling, general, and administrative expenses rose. Net loss for the third quarter of 2023 decreased by 65.6% compared to the same quarter in the prior year. CEO Jim Bernau credited the company's success to achieving strategic goals, new winery and retail locations, and returning to core values.

Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) declares $0.22 per share cash dividend on its Series A Redeemable Preferred stock (NASDAQ:WVVIP), payable on December 29, 2023. Future dividends subject to board approval based on terms of the Amended and Restated Certificate of Designation of the Preferences, Limitations, and Relative Rights of the Series A Redeemable Preferred Stock. Headquartered near Salem, Oregon.

Willamette Valley Vineyards (NASDAQ:WVVI) reported a significant financial downturn for the year ended December 31, 2022, with a net loss of $646,492, compared to a profit of $2,445,463 in 2021. Loss per common share after preferred dividends decreased to $0.51, a $0.71 decline from the previous year. However, net sales revenue increased to $33.93 million, up 6.8% from $31.79 million in 2021, driven by a strong 18.5% rise in direct sales despite a slight decline in distributor sales. Selling and administrative expenses surged 29.3%, primarily due to the opening of four new tasting rooms, impacting overall profitability.