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Crimson Wine Group (CWGL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Crimson Wine Group (CWGL) Q3 2026 earnings results →
Q3 2026 Revenue up 65% year over year to $22.0M · 1¢ of every $1 of revenue lost · operating margin -0.6%
Crimson Wine Group made $22.0M in Q3 2026 (+65% Y/Y). Operating margin -0.6%, net loss $292K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $22.0M in Q3 2026, up 65% year over year and up 7% from the previous quarter.
Gross margin was 44.1%, down 3.2 points from Q3 2025. Operating costs exceeded revenue by $127K, an operating margin of -0.6%. Operating expenses grew 32% against revenue growth of 65%. The fastest-growing cost line was Sales & marketing (+36%). The quarter ended with a net loss of $292K, narrower than the previous quarter's $346K loss. Net interest and other expense of $289K was the main reason.
Operating cash flow was $4.6M (up 86% year over year). Non-cash charges added back $1.9M of depreciation and amortization and $17K of share-based compensation. Working capital and other items added $3.0M. Capital expenditures of $1.7M left free cash flow of $2.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $22.0M | +65% | -0.6% | −$292K | $4.6M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $20.5M | +20% | 0.2% | −$346K | $6.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $18.3M | +26% | -3.2% | −$630K | $2.4M |
| Q4 2025 | 10-K | Mar 17, 2026 | $20.3M | -11% | -2.9% | $737K | −$1.7M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $13.3M | -21% | -8.7% | $943K | $2.5M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $17.0M | -1% | -2.6% | −$131K | $540K |
| Q1 2025 | 10-Q | May 8, 2025 | $14.5M | -9% | -10.7% | −$936K | $113K |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Crimson Wine Group
Unless the context indicates otherwise, the terms the “Company,” “Crimson,” “we,” “our” or “us” as used herein refer to Crimson Wine Group, Ltd. and its subsidiaries. Crimson was incorporated in 1991 under the laws of Delaware and has been conducting business since 1991. Prior to February 25, 2013, Crimson was a wholly-owned subsidiary of Jefferies Financial Group Inc. (formerly known as Leucadia National Corporation) (“Jefferies”). On February 1, 2013, Jefferies declared a pro rata dividend of all of the outstanding shares of Crimson’s common stock in a manner that was structured to qualify as a tax-free spin-off for U.S. federal income tax purposes (the “Distribution”). Jefferies’ common shareholders received one share of Crimson common stock for every ten common shares of Jefferies, with cash in lieu of fractional shares, on February 25, 2013.
In its own words, from its 10-K, filed Mar 17, 2026.
Crimson Wine Group against its Beverages peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +65% against the peers' median +6%. Operating margin: -0.6% against the peers' median 18.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CWGL Crimson Wine Group | Q3 2026 | $22.0M | +65% | -0.6% |
| PEP PepsiCo | Q3 2026 | $25.3B | +6% | 16.9% |
| KO Coca Cola | Q3 2026 | $13.4B | +7% | 33.4% |
| KDP Keurig Dr Pepper | Q3 2026 | $7.3B | +71% | 18.2% |
| STZ Constellation Brands | Q2 FY27 | $2.8B | +6% | 28.6% |
| PRMB Primo Brands | Q3 2026 | $1.8B | +3% | 13.7% |
| BF-B Brown Forman | Q1 FY27 | $1.2B | -0.8% | 21.3% |
| WEST Westrock Coffee | Q3 2026 | $300M | -15% | 1.1% |
| COCO Vita Coco Company | Q3 2026 | $244M | +34% | 18.6% |
Source: Crimson Wine Group 10-Q on SEC EDGAR · CIK 1562151 · Beverages
Guidance and outlook
13F: who owns CWGL and who is buying
More on CWGL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results