EarningsQ4 2026 Earnings Report
TSRYF Q4 2026 EPS Results
Actual EPS$0.13
Consensus EPS$0.12
Beat/MissBeat by +<$0.01
One Year Ago EPS$0.20
TSRYF Q4 2026 Revenue Results
Actual Revenue$913.99M
Expected Revenue$861.62M
Beat/MissBeat by +$52.37M
YoY Revenue Growth-7.28%
Earnings Announcement Details
QuarterQ4 2026
Date08/12/2026
TimeAfter Close
Conference CallWednesday, August 12, 2026
TSRYF Upcoming Earnings
Treasury Wine Estates Limited's next earnings date is estimated for February 16, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
TSRYF Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call reflects a balanced picture: significant operational progress and brand strength (notably Penfolds) and clear, time-bound transformation actions (Project Ascent, inventory rebalancing, U.S. strategic review) are set against very large one-off impairments, inventory write-downs and short-term margin/headline earnings pressure. Management reiterated F'27 EBITS guidance (at least equivalent to F'26), highlighted strong liquidity and a pathway to below 2x leverage by end F'28, but the scale of the material charges and Americas restructuring are meaningful near-term negatives. Overall, the tone is constructive and forward-looking but tempered by substantial near-term financial impacts.Company Guidance
EBITS Ahead of Guidance
F'26 EBITS of $492 million, ahead of guidance and driven by strong Penfolds performance in Q4.
Penfolds Depletions and Brand Momentum
Penfolds delivered strong depletions growth, particularly in Greater China, Asia ex-China and Australia; management cites ~35% reported China depletions with roughly half attributed to recapture of parallel imports, and ongoing brand-building initiatives (Global Grange and market activations) improving awareness and demand.
Division-Level Profitability
Penfolds EBITS $404 million; Treasury Americas EBITS $90 million (returned to national depletions growth for the year with California recovering in H2); Treasury Collective EBITS $68 million (in line with expectations).
Ascent Transformation Progress and Cost Savings Target
Project Ascent on track: target cost savings of $100 million per annum by F'29, with approximately $40 million expected to be realized in F'27; organizational restructure to a regional operating model effective Oct 1.
Liquidity and Cash Flow Position
Net operating cash flow before interest, tax and material items of $535.3 million; cash conversion 81.4%; available liquidity of $1.3 billion and diversified debt maturity profile with $300 million of additional commitments.
Inventory Rebalancing Progress
Penfolds customer inventory cover reduced by ~200,000 cases (about halfway to the previously communicated 400,000-case target), with planned completion of key rebalancing in China and U.S. within the communicated timeframes.
Capital Expenditure Discipline
F'26 CapEx $113.4 million (maintenance $70.7M, growth $42.7M); F'27 CapEx guidance reduced to approximately $75 million to preserve cash and support deleveraging.
EBITS Outlook and Confidence
Company reiterates F'27 group EBITS guidance: expected to be at least equivalent to F'26, supported by depletions momentum for power brands and ~ $40M of Ascent benefits.
TSRYF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed