Duckhorn Expecting Full-Year Sales Of $370 MillionJune 3, 2022
The Duckhorn Portfolio saw sales climb 1.3% to $92 million against a tough comp in its fiscal third quarter ended in April, with adjusted EBITDA roughly flat at $33 million. The Duckhorn Vineyards and Decoy brands continue to drive gains, after increasing 28% to 275,000 cases and 19% to just under 1.3 million cases respectively last year, according to Impact Databank.
Sales to distributors accounted for 62% of Duckhorn’s revenue in its third quarter, while its California direct-to-retail sales took a 16.6% share and direct-to-consumer represented the remaining 21.4%. Chairman and CEO Alex Ryan said that with momentum remaining robust the company has raised its full-year sales target to $369 million to $373 million, with adjusted EBITDA expected to fall between $125 million and $128 million.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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