Vintage Vine Estates Sees FY24 Revenue $260M-$270M Vs $255.22M Est.
Portfolio Pulse from Benzinga Newsdesk
Vintage Vine Estates (VWE) has updated its fiscal 2024 outlook, expecting revenues of $260M-$270M, up from the previous estimate of $255.22M. The company attributes this to its restructuring and Five-Point Plan. Gross margin is expected to be around 38%, an 800 basis point improvement on lower volume. SG&A is expected to be around $98M, excluding restructuring costs. The company also expects to face restructuring charges of $5M-$6M.
October 13, 2023 | 8:54 pm
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VWE has revised its FY24 revenue outlook upwards, which could be seen as a positive sign by investors. However, the company also expects to face restructuring charges of $5M-$6M, which could negatively impact its financial performance.
The upward revision of VWE's FY24 revenue outlook could be seen as a positive sign by investors, indicating that the company's restructuring and Five-Point Plan are expected to drive growth. However, the expected restructuring charges could negatively impact the company's financial performance, potentially offsetting some of the positive impact of the increased revenue outlook.
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