Duckhorn Beats Q4 Earnings Expectations; Shares Rise 2%


Shares of The Duckhorn Portfolio, Inc. (NAPA) rose 2.2% in Monday’s extended trading session after North America’s premier luxury wine company recorded upbeat Q4 earnings. The positive results were driven by robust sales and volume growth, which resulted from elevated demand for high-quality wine.

Happily for Duckhorn’s investors, the company reported adjusted earnings of $0.08 per share in Q4, which compared favorably with the income of $0.07 per share recorded in the same quarter last year. Adjusted earnings also significantly beat analysts’ expectations of $0.01 per share.

At the same time, net sales rose 35.7% year-over-year to $70.9 million. Additionally, adjusted gross profit came in at $34.7 million, up 30.9%.

For Fiscal 2021, the company reported adjusted earnings of $0.58 per share, up 20.8% year-over-year. Furthermore, net sales jumped 24.4% to $336.6 million. (See Duckhorn stock charts on TipRanks)

Looking ahead, Duckhorn CEO Alex Ryan said, “As we enter our first full fiscal year as a public company, we are introducing initial guidance that we view as thoughtful and well-calibrated for the currently fluid operating environment. We remain confident in our ability to continue to well-outperform the market, and we look forward to continuing to build upon our legacy as the standard for American fine wine and long-term value creation for all stakeholders.”

For Fiscal 2022, the company projects adjusted EPS to be in the range of $0.54 to $0.57 per share. Net sales are expected to land between $353 million and $360 million.

The stock has picked up a rating from one analyst in the past three months. Barclays analyst Lauren Lieberman reiterated a Hold rating and a price target of $21 (10.7% downside potential).

Bloggers are also enthusiastic about Duckhorn. TipRanks data shows that financial blogger opinions are 100% Bullish on NAPA, compared to a sector average of 75%.

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