Duckhorn’s Annual Sales Rise 11% To $373 MillionSeptember 29, 2022
The Duckhorn Portfolio saw sales increase 11% to $373 million in its fiscal year through July, as adjusted EBITDA grew 9% to $128 million. The company’s 10% sales increase in the fourth quarter was driven by 7.1% volume growth—which lapped a 40% growth rate in the prior year—and a positive price/mix contribution of 2.9%.
Duckhorn CEO Alex Ryan said the strong results were achieved “despite a dynamic and inflationary environment. I would specifically note the double-digit, volume-driven sales growth and the solid gross margin expansion. Our results reflect sustained, healthy share gains within luxury wine, which benefits from the continued premiumization tailwind.” For its current fiscal year, Duckhorn is expecting sales of $393 to $401 million and adjusted EBITDA of $132 to $137 million.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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