Crimson Wine Group Ltd.
5.10+0.02 (+0.39%)
Oct 30, 4:00:00 PM EDT · OTC Markets OTCQB · CWGL · USD
Key Stats
Market Cap
104.99MP/E (TTM)
510.00Basic EPS (TTM)
0.01Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Crimson Wine Group posted Q2 net sales of $17.0M, down 1% y/y but flat q/q, with wholesale up 5% y/y on domestic shipments yet direct-to-consumer off 5% y/y from softer club and tasting room traffic. Gross profit fell 12% y/y to $7.8M at 46% margin, pressured by $1.3M YTD inventory write-downs for market-driven losses, while operating loss widened to $0.4M from $0.05 y/y, and diluted EPS slipped to -$0.01 on 20.6M shares. Cash from operations generated $0.7M YTD, boosting cash to $22.2M with $16.0M debt at fixed 5.24-5.39% rates maturing 2037-2040; free cash flow not disclosed in the 10-Q. No M&A or impairments noted. Tariffs suspended Canada exports, a minor drag.
8-K
Stockholders approve board, auditors
Crimson Wine Group stockholders unanimously elected seven directors at the July 22, 2025 annual meeting, including John D. Cumming and Joseph S. Steinberg, despite some withheld votes on four nominees. They ratified BPM LLP as auditors for 2025 with overwhelming support and approved executive compensation via advisory vote. Frequency for future say-on-pay votes landed on every two years. Solid backing signals investor confidence in governance.
10-Q
Q1 FY2025 results
Crimson Wine Group posted Q1 FY2025 net sales of $14.5M, down 9% y/y from $15.9M, as wholesale shipments dropped 14% amid distributor inventory rebalancing and suspended Canadian exports due to tariffs, while direct-to-consumer held steady at $6.0M. Gross profit fell 14% to $6.6M, with margins dipping to 46% from 48% on higher inventory write-downs of $0.8M versus $0.2M last year; operating loss widened to $1.5M from $1.1M, yet sales and marketing expenses trimmed 12% to $4.2M. Net loss climbed to $0.9M or $(0.05) per diluted share, reconciled against 20.6M shares, with the gap to operating loss mainly from interest expense. Cash dipped to $12.7M after $7.7M net investment buys, but $60M revolver stands fully available through 2028 alongside $16.3M in term debt at fixed rates under 5.4%; free cash flow not disclosed in the 10-Q. Tariffs threaten export channels, though they comprise under 5% of sales.
10-K
FY2024 results
Crimson Wine Group posted $73M in net sales for FY2024 ended December 31, 2024, edging up 1% year-over-year, with wholesale up 1% to $41M on stronger export shipments and direct-to-consumer rising 2% to $28M from ecommerce and tasting room gains, though wine club dipped. Gross profit climbed 4% to $35M, lifting wholesale margins to 40% via higher-priced wines and lower-cost vintages, while DTC held steady at 65% despite channel shifts. Operating expenses rose 8% to $34M on higher compensation and sales taxes, yielding $2M net income after a 24% tax rate; Q4 holiday momentum boosted shipments to 408,000 cases, up 3% annually, with steady 2.9 tons-per-acre harvest underscoring resilience. Cash from operations funded $5M capex and $2M buybacks under the ongoing program, leaving $16M debt at fixed 5% rates maturing 2037-2040, revolver untapped. Yet economic slowdowns could crimp discretionary wine spending, stalling quarterly gains.
10-Q
Q3 FY2024 results
Crimson Wine Group posted Q3 net sales of $16.9M, down 6% y/y from $18.0M, yet gross profit held steady at $8.1M with margins edging up to 48% from 47% on a richer mix of higher-priced wines. Wholesale dipped 13% y/y to $9.4M amid softer industry demand, while direct-to-consumer rose 5% y/y to $6.4M, fueled by ecommerce promotions and tasting room traffic. Operating loss widened slightly to $0.3M from income of $0.4M, pressured by higher sales taxes and professional fees, offset by stock-based comp reversals. YTD, sales edged down 2% y/y to $50.1M, but gross margins improved to 49%, with operating cash flow at $2.4M and free cash flow of $0.2M (derived). Cash swelled to $24.3M, bolstered by $60M revolver availability and no covenant breaches on $16.8M term debt due 2037-2040. Share repurchases trimmed outstanding shares by 325K y/y. Wildfires and cybersecurity incidents linger as risks, though insurance covers much of the latter.
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