Exhibit 99.1

 

LOGO

The Duckhorn Portfolio Announces Fourth Quarter and Fiscal Year 2021 Financial Results

Fourth Quarter Net Sales Increase 36%

Fourth Quarter Net Income of $7.4 million; Adjusted Net Income of $9.2 million

Fourth Quarter Adjusted EBITDA of $18.4 million

Introduces Fiscal Year 2022 Guidance

St. Helena, CA, October 4, 2021 – The Duckhorn Portfolio, Inc. (NYSE: NAPA) (the “Company”), today reported its financial results for the three months ended July 31, 2021.

Fourth Quarter Highlights

 

   

Net sales were $70.9 million, an increase of $18.7 million, or 35.7%, versus the prior year period.

 

   

Gross profit was $34.4 million, an increase of $8.5 million, or 32.7%, versus the prior year period. Adjusted gross profit was $34.7 million, an increase of $8.2 million, or 30.9%, versus the prior year period.

 

   

Net income was $7.4 million, or $0.06 per diluted share, versus $(2.7) million, or $(0.03) per diluted share, in the prior year period; adjusted net income was $9.2 million, or $0.08 per diluted share, versus $7.4 million, or $0.07 per diluted share, in the prior year period.

 

   

Adjusted EBITDA was $18.4 million, an increase of $0.6 million, or 3.4%, versus the prior year period, which includes public company costs in the most recent quarter that did not exist in the prior year period. Adjusted EBITDA increased $2.3 million, or 14.3%, versus the prior year when comparing Adjusted EBITDA in the fourth quarter against the prior year period when proportionately burdened by public company costs.

 

   

Cash and cash equivalents were $4.2 million as of July 31, 2021, with a leverage ratio of 2.1x net debt (net of deferred financing costs) to trailing twelve months adjusted EBITDA.

Fiscal Year 2021 Highlights

 

   

Net sales were $336.6 million, an increase of $66.0 million, or 24.4%, versus the prior year.

 

   

Gross profit was $167.3 million, an increase of $30.5 million, or 22.3%, versus the prior year. Adjusted gross profit was $169.6 million, an increase of $22.2 million, or 15.1%, versus the prior year.

 

   

Net income was $56.0 million, or $0.52 per diluted share, versus $32.4 million, or $0.32 per diluted share, in the prior year period. Adjusted net income was $62.4 million, or $0.58 per diluted share, versus $49.0 million, or $0.48 per diluted share, in the prior year.

 

   

Adjusted EBITDA was $117.2 million, an increase of $12.1 million, or 11.5%, versus the prior year, which includes public company costs in the most recent year that did not exist in the prior year. Adjusted EBITDA increased $14.6 million, or 14.2%, in the fiscal year 2021 versus the prior year when comparing Adjusted EBITDA against the prior year period when proportionately burdened by public company costs.

“I am very pleased to report that we have exceeded our expectations, with a strong fourth quarter that caps off an exceptional year for Duckhorn,” commented Alex Ryan, President, Chief Executive Officer and Chairman. “Our brand equity, diversified omni-channel platform and highly flexible supply chain position us very well to capitalize on the heightened interest and demand for high-quality wine, all of which contributed to another period of robust sales and volume growth. Importantly, we continue to achieve profitable results in an environmentally sustainable manner.”


The following information was filed by Duckhorn Portfolio, Inc. (NAPA) on Monday, October 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Duckhorn Portfolio, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Duckhorn Portfolio, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account