Treasury Wine Estates Limited revised earnings guidance for the year 2020 and provided earnings guidance for the year 2021. The company is updating guidance for 2020 reported EBITS growth to 5% to 10%, which is below previously guided range of approximately 15% to 20% reported EBITS growth.

For fiscal 2021, the company expects reported EBITS growth of 10% to 15%, which will be driven by continued premiumization of growth in luxury wine availability, balanced against expectation that the challenging market conditions in the United States may persist into the next financial year, along with the potential impact to cost of what looks to be a challenging 2020 vintage in Australia.