Treasury Wine Estates (TWE) has withdrawn its fiscal 2026 earnings guidance due to uncertainty surrounding Penfolds and Treasury Americas. This decision led to a 15% drop in share value to A$5.93, the lowest in over a decade. While TWE met first-quarter shipment expectations in key markets, soft Penfolds sales in China are concerning. The company had anticipated low to mid double-digit EBITS growth for Penfolds, but has now scrapped this forecast. Talks continue with RNDC in the US for a practical solution following their exit from California. TWE has paused its share buy-back program for now.

Read more at Yahoo Finance: Treasury Wine Estates pulls guidance on China, US troubles