Ste. Michelle, other Altria-owned wine assets down 8.5% on 2017 net revenue

From company news release

Feb. 2, 2018

In the wine segment, Ste. Michelle’s fourth-quarter and full-year results were negatively impacted by competitive activity, continued trade inventory reductions and slower premium wine category growth.

 

In the fourth quarter of 2017, Ste. Michelle’s net revenues declined 8.5%. Reported and adjusted OCI increased 1.6%, primarily due to lower costs, higher pricing and favorable mix, mostly offset by lower volume. Reported wine shipment volume for the fourth quarter declined 9.7% to approximately 2.8 million cases.

 

For the full year, Ste. Michelle’s net revenues declined 6.4%. Reported OCI declined 10.4% and adjusted OCI declined 12.0%, primarily due to lower volume. Reported shipment volume for the full year declined 8.6% to approximately 8.5 million cases.

 

Table 8 summarizes revenues, OCI and OCI margins for the wine segment.

 

Full results at this link: Results

Full results at this link,