Treasury Wine Estates Limited
Company Name | Treasury Wine Estates Limited |
Stock Symbol | TSRYY |
Status | 1 |
On January 28, 2020, the Company issued a press release announcing that “based on our revised full year forecast our growth rate in F20 will be lower than previously guided[]” driven by “underperformance in our US results.” Further, TWE noted that the "Americas reported a 17% decline in EBITS to $98.3m and an EBITS margin of 16.1%" due to a "loss of execution momentum" and "the persistence of challenging conditions in the US wine market.”
On this news, the Company’s American depositary receipt (“ADR”) price fell $1.33 per ADR, or 13%, to close at $8.83 per ADR on January 29, 2020.
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