Duckhorn portfolio rises after top earnings

Wine bottles are arranged on a rack in the cellar

Hoxton/Tom Merton/iStock via Getty Images

Duckhorn Portfolio (NYSE:NAPA) spiked in early trading on Thursday after breaking through consensus milestones with Q1 earnings report.

Sales grew 3.8% in the quarter but had a calendar impact with around the year before the Kosta Browne Single Vineyard Series released DTC sales, which has now moved into the second quarter of this year.

Adjusted gross margin increased 20 basis points to 50.8% of sales. Adjusted EBITDA was $35.7 million versus $33.3 million.

NAPA had $5.3 million in cash at the end of the quarter. The company’s leverage ratio is 1.6 times more net debt than its 12-month adjusted EBITDA.

Notably, NAPA has announced that Chief Financial Officer Lori Beaudoin plans to retire in the spring of 2023 and that the company will conduct a nationwide search for a successor.

On Wall Street, Bank of America reiterated its Buy rating on NAPA with the expectation that the winemaker will continue to outgrow its wine category and its luxury wine sub-set.

NAPA shares obtained 3.61% in premarket to $16.37 later highest income.


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button