Duckhorn Portfolio Reports $298.1M in Net Sales

Duckhorn Portfolio, Inc. has recently released its 10-Q report, providing a detailed overview of the company's financial condition and results of operations. The company, formerly known as Mallard Intermediate, Inc., is a premier scaled pure-play producer of luxury wines in North America, offering a comprehensive portfolio of luxury wines under various brands such as Duckhorn Vineyards, Decoy, Goldeneye, and Kosta Browne.

In the 10-Q report, Duckhorn Portfolio highlighted its key financial metrics, reporting a net sales of $92.5 million for the three months ended April 30, 2024, and $298.1 million for the nine months ended April 30, 2024. The gross profit was reported at $51.4 million for the three months ended April 30, 2024, and $163.6 million for the nine months ended April 30, 2024. The net income attributable to The Duckhorn Portfolio, Inc. was $13.3 million for the three months ended April 30, 2024, and $44.7 million for the nine months ended April 30, 2024. Additionally, the adjusted EBITDA was reported at $37.7 million for the three months ended April 30, 2024, and $115.2 million for the nine months ended April 30, 2024.

The report also outlined the company's key operating metrics, including net sales percentage by channel, net sales growth contribution, and sales channels. It revealed that the company's net sales growth experienced a decline of 1.6% for the nine months ended April 30, 2024, with a volume contribution of -3.5% and a price/mix contribution of 1.9%. The composition of net sales by channel indicated that 60.4% of net sales were through wholesale distributors, 16.0% through wholesale direct to trade accounts in California, and 23.6% through the direct-to-consumer (DTC) channel.

Furthermore, the report discussed the company's strategies for future growth, including leveraging sales and marketing strength to gain market share, insightful and targeted portfolio evolution, expansion and acceleration of wholesale channel distribution, investment in DTC capabilities, and the evaluation of strategic acquisitions opportunistically.

Today the company's shares have moved 0.4% to a price of $7.79. Check out the company's full 10-Q submission here.

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