Duckhorn Portfolio, Inc. Reports Net Income of $69.3 Million for the Year
Annual Revenue of $403 Million
Duckhorn Portfolio, Inc. [NAPA], a leading wine company, has announced its financial results for the year ended July 31, 2023. The company reported a net income of $69.3 million, representing a strong performance in the industry. With an annual revenue of $403 million, Duckhorn Portfolio, Inc. has continued to establish its position as a key player in the wine market.
Financial Performance
The company's financial performance has shown significant growth compared to the previous year. Net sales for the year increased to $402.9 million from $372.5 million, indicating a revenue growth of over 8%. This growth can be attributed to strong sales in both domestic and international markets. The cost of sales remained relatively stable at $187.3 million, resulting in a gross profit of $215.7 million, compared to $185.2 million in the previous year.
