Ste. Michelle Revenues Rebound In First Quarter

After posting a revenue decline in 2017, Ste. Michelle Wine Estates saw sales rebound in the first quarter of this year. The Washington-based winemaker posted revenues up 1.4% to $142 million for the three months through March, parent group Altria reported, as shipments climbed 6.1% to 1.8 million cases. Ste. Michelle’s operating income slid 19% to $17 million in the first quarter, however, as one-time employee bonuses were only partially offset by the increased revenues. —Daniel Marsteller

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