AUS
NZ
UK
CA
USA
IND
Highlights
- Duckhorn Portfolio, Inc’s (NYSE:NAPA) gross profit jumped 32.7% YoY to US$34.4 million; the adjusted gross profit surged 30.9% YoY to US$34.7 million.
- Established in 1976, the company owns ten wineries, eight high-tech winemaking facilities, and over half a dozen tasting rooms, spread across 22 estate properties.
- Furthermore, its adjusted net income rose from US$7.4 million, or US$0.07 per diluted share, in Q4 FY20 to US$9.2 million, or US$0.08 per diluted share, in Q4 FY21.
Luxury winemaker Duckhorn Portfolio, Inc. (NYSE:NAPA) reported solid fourth-quarter results for fiscal 2021 after the closing bell. The NAPA stock was up 4.04% to US$24.47 at 7:56 pm ET.
Here we discuss the fourth-quarter performance of the company.
Duckhorn Portfolio, Inc. (NYSE:NAPA)
Duckhorn Portfolio is a premier luxury winemaker headquartered in California.
Established in 1976, the company owns ten wineries, eight high-tech winemaking facilities, and over half a dozen tasting rooms, spread across 22 estate properties. Duckhorn wines are available in five continents, including the US and over 50 other countries.
For the fourth quarter ended July 31 FY 21, Duckhorn’s net sales were US$70.9 million, up 35.7% YoY. In addition, the gross profit jumped 32.7% YoY, or an increase of US$8.5 million, to US$34.4 million. The adjusted gross profit surged 30.9% YoY to US$34.7 million.
The net income was US$7.4 million, or US$0.06 per diluted share, against US$(2.7) million, or US$(0.03) per diluted share, in the year-ago period.
Furthermore, its adjusted net income rose from US$7.4 million, or US$0.07 per diluted share, in the fourth quarter of FY20 to US$9.2 million, or US$0.08 per diluted share, in Q4 of FY21.
Duckhorn’s adjusted EBITDA rose 3.4% to US$18.4 million in the latest quarter. And its cash and cash equivalents were US$4.2 million as of July 31, 2021.
Presenting the strong Q4 results, CEO Alex Ryan said that Duckhorn’s “brand equity, diversified channel and highly flexible supply chain” positioned the company well to capitalize on the demand for high-quality wine and “contributed to another period of robust sales and volume growth.” He added that the fourth quarter concludes an exceptional year for Duckhorn.
Also Read: Key dividend dates: Why are they important for investors?
In Q3 ended April 30, 2021, Duckhorn had reported net sales of US$90.4 million, which was an increase of 31.6% YoY. At the same time, the adjusted net income rose from US$15.5 million, or US$0.15 per diluted share, in Q3 FY20 to US$17.9 million, or US$0.17 per diluted share, in Q3 FY21.
Source: Pixabay
Also read: Xenon (XENE), OpGen (OPGN) stocks soar on drug results, FDA approval
FY 2021 Highlights
Duckhorn’s net sales increased by 24.4% to US$336.6 million in FY21 compared to FY20. Also, the gross profit of US$167.3 million was an increase of 22.3% or US$30.5 million YoY. The adjusted gross profit rose 15.1% to US$169.6 million in FY21 compared to the previous fiscal year.
In addition, the net income rose from US$32.4 million, or US$0.32 per diluted share, in FY20 to US$56.0 million, or US$0.52 per diluted share, in FY21.
Bottomline
The consumer and retail sector has seen rapid growth during the pandemic, boosted by e-commerce sales. Analysts expect the sector to continue the upward growth trajectory with an improved covid situation and economic recovery. However, investors should evaluate the companies carefully before investing in stocks.
