Treasury Wines Sees Some Small Hiccups in FY18; Long-Term Forecast Intact and Shares Overvalued
No-moat Treasury Wine’s business remains a solid long-term growth engine, and we expect the business to enjoy further structural growth in China, market share gains from new product launches, and improving profitability from positive mix shift. But fiscal 2018 results show that the road could be bumpy along the way. Treasury saw underlying operating earnings in its Americas segment fall 1.5% from the year prior, as it works to restructure its go-to-market distribution strategy in the region. And...Treasury Wine Estates is engaged in viticulture and winemaking, and the marketing, sale and distribution of wine. Co.'s wine portfolio includes wine brands such as Penfolds, Beringer, Lindeman's, Wolf Blass, Stags' Leap, Chateau St Jean, Beaulieu Vineyard and Sterling Vineyards. Co. also distributes beer and cider under license in New Zealand and provides contract bottling services to third parties. Co. maintains its operations in four regions: Australia and New Zealand, Asia, Europe, and Americas.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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