Earnings call transcript: Viva Wine Group’s Q2 2026 sales rise on deals

Viva Wine Group reported a 21% rise in second-quarter sales, driven by the integration of Delta Wines and Alpha Brands. Organic growth, however, fell by 3.7% due to weak consumer sentiment and Easter timing affecting the Nordic market. The company did not disclose EPS or revenue, but analysts had anticipated earnings of $0.685 per share and revenue of $1.65 billion.

The stock rose 0.52% to $38.30, nearing its 52-week high of $39.50. While the acquisition-led growth was strong, organic growth remained negative, indicating a business heavily reliant on deals. The Nordic wine market declined by about 4%, and Viva's organic decline was slightly better than the market, suggesting better-than-average performance.

B2B business remained strong with stable market share, while B2C saw increased active customers and orders despite negative organic growth. Management remains cautious yet optimistic, expecting lower operational expenses in Q3 and reduced gross margins due to freight costs. Dividend payments are contingent on the Riesling Ventures takeover bid outcome.