Quarterly ResultMay 7, 2026, 04:16 PM
Crimson Wine Group Q1 Net Loss $0.63M; Acquires Raeburn Assets
AI Summary
Crimson Wine Group reported a net loss of $0.63 million for the first quarter of 2026, an improvement from a $0.94 million loss in the prior year, on net sales that increased 26.3% to $18.26 million. The company completed the strategic acquisition of Raeburn Assets for $37.5 million in February 2026, significantly expanding its wine portfolio. This acquisition led to a substantial increase in inventory and long-term debt, while cash and cash equivalents decreased.
Key Highlights
- Crimson Wine Group acquired Raeburn Assets for $37.5 million, expanding its Chardonnay and Pinot Noir portfolio.
- Net sales for Q1 2026 increased by 26.3% to $18.26 million, up from $14.46 million in Q1 2025.
- Net loss improved to $0.63 million in Q1 2026, compared to a $0.94 million loss in Q1 2025.
- Basic and diluted loss per share was $0.03 for Q1 2026, an improvement from $0.05 in Q1 2025.
- Total inventory rose to $91.27 million as of March 31, 2026, from $66.97 million at December 31, 2025.
- Long-term debt, net of current portion, increased to $42.99 million from $14.28 million, largely funding the acquisition.
- Cash and cash equivalents decreased to $14.33 million as of March 31, 2026, from $20.60 million at December 31, 2025.
- Wholesale segment net sales grew by 55.2% to $12.26 million, while Direct to Consumer sales declined by 7.0% to $5.56 million.