Napa Valley wine company Duckhorn reports drop in net income for fiscal Q1

The Duckhorn Portfolio reported net income of $19.8 million for the past quarter that ended on Oct. 31, which was a 7% decrease from the same period a year ago.

Duckhorn, the St. Helena-based company that owns Kosta Browne in Sebastopol and Goldeneye in Mendocino County, noted its nets sales for the past quarter were $108.2 million, a 4% increase from the same period in 2021.

The company added that its first quarter 2023 set a record high in quarterly net sales, which was driven by its Duckhorn Vineyards and Decoy brands.

“We are off to a strong start to the year and are confident in our ability to deliver our fiscal 2023 financial targets. Longer term, with premiumization tail winds at our back, we believe we will continue to leverage our unrivaled brand strength,” Alex Ryan, president and CEO of Duckhorn, said in a statement Wednesday.

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