Highlights:
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The Duckhorn Portfolio reported net sales of $107.4 million in Q4, reflecting a 7.3% increase year-over-year.
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For fiscal year 2024, the company achieved net sales of $405.5 million, representing a 0.7% year-over-year growth.
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Adjusted EBITDA for Q4 reached $39.9 million, an increase of 16.7%, while the fiscal year's adjusted EBITDA totaled $155.1 million, up 7.3%.
The Duckhorn {NYSE:NAPA} Portfolio has released its financial results for the fourth quarter and fiscal year 2024, highlighting a solid performance amid a competitive landscape. In Q4, the company reported net sales of $107.4 million, marking a 7.3% increase compared to the same quarter last year. This growth was accompanied by a net income of $11.3 million, equating to $0.08 per diluted share. Additionally, the company achieved an adjusted EBITDA of $39.9 million for the quarter, which reflects a 16.7% increase year-over-year.
For the full fiscal year 2024, The Duckhorn Portfolio recorded net sales of $405.5 million, indicating a modest growth of 0.7% compared to the previous year. Net income for the fiscal year reached $56.0 million, or $0.45 per diluted share, while the adjusted EBITDA totaled $155.1 million, up 7.3%.
A key highlight for the year was the successful integration of Sonoma-Cutrer, which contributed positively to volume growth. However, it is worth noting that, when excluding Sonoma-Cutrer's contributions, net sales saw a decline due to shifts in release timing and changes in product mix. Despite these challenges, the company remains committed to optimizing its portfolio and enhancing overall performance in the future.