Willamette Valley Vineyards Posts Results for Q2 2026

Willamette Valley Vineyards, Inc. (NASDAQ: WVVI) (the "Company"), a leading Oregon producer of Pinot Noir, generated a loss per common share after preferred dividends of $0.40 and $0.09 for the three months ended June 30, 2026 and 2025 respectively, an increase of $0.31, for the three month period ended June 30, 2026 over the same three month period in the prior year.

Sales revenue for the three months ended June 30, 2026 and 2025 were $10,036,275 and $10,195,763, respectively, a decrease of $159,488, or 1.6%, in the current year period over the prior year period. This decrease was caused by a decrease in direct sales of $262,493, partly offset by an increase in sales through distributors of $103,005 in the current year three-month period over the prior year period. The decrease in revenue from direct sales was primarily related to lower outpost sales.

Gross profit for the three months ended June 30, 2026 and 2025 was $5,773,725 and $6,216,618, respectively, a decrease of $442,893, or 7.1%, in the second quarter of 2026 over the same quarter in the prior year.

Selling, general and administrative expenses for the three months ended June 30, 2026 and 2025 was $7,127,694 and $5,818,454 respectively, an increase of $1,309,240, or 22.5%, in the current quarter over the same quarter in the prior year. This increase was primarily the result of an increase in the allowance for credit losses associated with the bankruptcy filing of Republic National Distributing Company, a distributor of the Company.

Net income (loss) for the three months ended June 30, 2026 and 2025 was ($1,389,876) and $92,795, respectively, a decrease of $1,482,671, in the second quarter of 2026 over the same quarter in the prior year.

Jim Bernau, Founder and President of the Company "I believe this second quarter reflects the negative impact of our largest distributor's bankruptcy filing and the sizable amount our winery is owed by them. We are taking steps to reduce the adverse impact on our cash flow as well as training new distributors to be successful with our brands. We are pleased that the reduction in the aggregate number of customer visitations at our retail locations during the second quarter was nearly offset by increased spending on a per customer basis during this period."

Willamette Valley Vineyards, Inc. is headquartered at its Estate Vineyard near Salem, Oregon. The Company's common stock is traded on NASDAQ (WVVI).