Viña Concha y Toro reported Q1 2026 consolidated sales of CLP$192,613 million on 5 May 2026, a decline of 7.8% versus Q1 2025. Wine sales fell 7.9% to CLP$178,000 million on a volume decline of 6.8%. EBITDA fell 22.9% to CLP$23,758 million. Net income fell 36.3% to CLP$8,779 million. On the surface, these are significant declines across every major metric.
The surface reading is incomplete. One market – the United States – declined 32.2% in wine sales value in Q1 2026. Strip out the US and the rest of the business looks fundamentally different: export markets excluding the US grew 4.8% in value, with Brazil and Mexico both posting growth in value and volume. The question the Q1 2026 results require is not why Concha y Toro is declining. It is why the US is declining at a rate that is distorting everything else.
“It is essential to highlight the strength of our international operations: revenue in dollars in export markets (excluding the U.S.) grew by 5.8%. Although the weaker exchange rate translated this growth into a -2.2% change in Chilean pesos, the underlying data confirms the strength of demand for our portfolio in foreign markets. These markets are responding positively to our premium brand strategy and are the basis of our confidence in targeting single-digit growth this year.”
Eduardo Guilisasti, CEO, Viña Concha y Toro – Q1 2026 Results, 5 May 2026
The US decline is the story – and the cause is distribution
- -Daily coverage
- -Market and category analysis
- -Financial results coverage
- -Practical industry guides
- -Interviews
- -Monthly intelligence briefing