NAPA - Earnings call 1 2024 | The Duckhorn Portfolio, Inc.

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Operator

Good evening, ladies and gentlemen. Thank you for joining today's Duckhorn Portfolio Q1 2024 Earnings Conference Call. My name is Tia, and I will be your moderator for today's call. [Operator Instructions] I would now like to pass the call over to Ben Avenia-Tapper. Please, proceed.

Ben Avenia-Tapper

to Portfolio's welcome Earnings Quarter and Call. Conference afternoon, The First Duckhorn XXXX Good

today's that quarter the is at archived Deirdre went today's moment, By release be website Fall have for call will XXXX, the President, on shortly October Legal to of time. by Sullivan, accessible release the me Joining our are Q&A. and after company's out and first Strategy X:XX give press Officer ended the Financial and Chief Eastern Chair access brief earnings the p.m. our Chief at followed next Chief Chief approximately In Mahlan, ir.duckhorn.com, should webcast days. and Person; will call, conclusion XX, for our The on XX now, Jennifer a everyone Jung, Officer. Officer; Sean we Executive Interim our remarks

would Before includes contains on statements based discussion I remind it, begin, as today's as see I you that forward-looking and currently uncertainties. and environment like the to we risks such,

If materially remember Duckhorn's no revise the will company's you to as recent release of most forward-looking to these forward-looking to these earnings well undertakes in update filings, the a results differ that actual statements as could SEC company's discussion factors the cause company future. from statements.Please see or refer obligation you the

the underlying GAAP perspective included a the financial financial believe have to most that We earnings on release to trends these business measures. We investors measures. of make full non-GAAP of provide with number comparable non-GAAP our will useful references a of measures in measures reconciliation and growth the

and Deirdre. noted. to is formerly versus turn to growth in as unit call the XX-week channels, otherwise over prior unless U.S. known same and which cited period please for dollar note addition, ended October that XX, that, In the to With I refer year was XXXX, data in retail scanner the track period the Circana, will consumption or on call today's according all IRI will

Deirdre Mahlan

discuss Thank quarter you, financial you Thank to performance. our first afternoon, us today good Ben, XXXX and everyone. for joining

opening remarks, financial guidance. our us through results fiscal my Following walk and Jennifer year our will XXXX quarterly

growth consumer trends, to We the Due of active reflects expected weeks, last as margin luxury softened, declined operating $XXX.X line wine above. we Net this note to full of XX Circana, quarter climate margin year in EBITDA wine overall In the we total we Accordingly, a did million This A as the top higher in revised on and EBITDA of wine at million expect and bottom rate end delivered and growth our an range. the and reflects results improvement for luxury growth our an improvement communicated the luxury into signs are million, defined our the lower over growth. the this $XXX reduction as year, our fiscal net sales $XX.X According come range. quarter, within we're to outlook, EBITDA X% our segment gross important million top for rate. spending was for the translates sales XX.X%. was the sales lower continued adjusted flat in wine million our the account sales expectations we a softening outlook. pleased gains, as in driven to guidance Despite which and to X%. of adjusted to in management now with execution wine by guidance we XX-basis previously $XX point near-term for of costs. adjusted million total This prior adjusted adjusted $XXX albeit to this range manage year.It's industry segment the X.X%. and to margin announced were $XXX expect annual of sentiment of narrowing line at our delivering share which for to net end maintain to are $XXX some in previously EBITDA

environment, brands strength the in mixed, have control The has cannot demonstrate which tiers. relative Portfolio to Duckhorn macro continued been their we While respective

We are record a of through comprehensive growth strategy climates. a profitable of confident sales our have variety in and industry track

at by Our of initiatives wholesale on timing was of high growing outperformance share strong single expectation our our some a strength, to remain initiatives. earlier the into Net driven QX. decline mid sales anticipated the our strategy November end quarter, came to expanding X.X% higher shifted were support highlights shipments now than brand DTC down our in leveraging by as from partially of This our expected I'll digits. for some portfolio, our first and evolving channel. the our for network driven quarter execution and

this adjust objective supply trends noting sector. is of long higher-priced factors year accordingly. as all-time wines. number affected demand on our distributors result worth is over normal full chain today was large high unseasonably is for the Jennifer specifically Volume we earnings our the the signals wholesale and manage XXXX. long that discussing levels we to lapped are fiscal here broader and placed year's this of strength. variability unique for shared alike a by we deliver volume.Accounting our have for The As Duckhorn profitable in our continue our wholesale as Last in entirely QX, retailers term managed brand see ahead business It quarterly demonstrating last in distributors buys quarter challenging with guidance market, and we quarter performance an this call, first driven was marked in strong growth sales is net a inventory term. by the consistent comp, to orders, quarterly for and The by to of retailers first always

for one X declined revenue growth DTC of a XX.X% improvement by our renovations event to our for drivers. There the in which in On rooms. is opportunity the is direct-to-consumer our planned partially at net key quarter, side, reduction sales due business, driven some tasting of

has emblematic buoyed to demand strong our strength changing seeing results the consumer in broader adjusting Valley, end at respond Our revenue consumer dipped, results. the Napa behavior. of highest occupancy as are the hotel approach have trends rates grow post-COVID has into QX but and room Across DTC room some behavior rate. positive to ultra-high to we're We're at and end actively tap average continued

Wholesaler person although tasting visitors were and spend elevated to tasting For number where quarter, example, considerably can traditional response the the spend in programs.From be of per we've a higher our soft than strong seen our experiences per visitor a healthy in X% to while slower line our perspective, volume expectations. total level remained QX declined a wholesale in in depletions inventories quarter, with at declined and line with at a expectations. rate. the Shipments X.X%, declined

during Decoy curated driver including profile. points our wines had on the some selling was as year-over-year, expanding Limited, of our of down collection ticked across strength, we hand evolution days season ideal overall, our The leverage than particular which the a to areas this While within lower of another industry year. important carefully take portfolio, by Drilling of see Merlot. with and driven peak higher range we success performance ahead primarily last price great luxury slightly growth levels portfolio is of

year. red recent Decoy last prior competition XX segment While an price during total this as for subsegment this increases period outperformed. in the the and in quarter ahead of White Decoy unusually brand's was point varietals period. as remain impact grew in in The was weeks, its the itself confident tier. soft the ability to within direct mainly price lapped We distinguish decelerated the sales to the $XX brand the at category retail the wine absorbed $XX the in strong from

Our willing strength higher and as increased to we consumers consistent.From priced as channels mentioned, pay our luxury I Limited, were retail efforts the in to demonstrated a proof this perspective, environment. proven the point remained what brands portfolio a another and well this in in in We our double-digit growth, of the our for market and distributor goals despite and in of on-premise as remain to environment, achieving team our addressing a retailers quarter continued be be strength the wine. Decoy in to a base with that has sales challenging of Overall, confidence market as both brands account the well opportunities that testament wine To share distribution conclude, pleased believe the to sales to challenging stock the marketplace. report the our of business. channel performed off-premise view take we the has of

immune. our to While partially we X% the from in and we we are X% lower tightening $XXX our now climate, to which range, guided insulates to million to or of brands this the execution Reflecting consumer year-over-year come the us expect $XXX our sales broader not growth. net are toward end million strength sentiment, of

consistent the margin results it prior EBITDA to we that, turn manage to over expenses. our to We outlook as financial an the adjusted expect our maintain With more provide our communication year. Jennifer on for and the details quarter with I'll for carefully

Jennifer Fall Jung

Deirdre, you, and afternoon, good Thank everyone.

shipment decrease tasting Deirdre due was the off declined The We by to wine and through hand channel, our rooms year's compared wholesale with in QX. flat to luxury sales November comp compared high some Absent period, that year X.X% the place net we and higher believe wholesale from in same As estimate in of and were top our of timing the By prior support last a see nationwide our QX California shifting to to to earlier managed is do factors was to price tough our to the portfolio engagement in the as brands. greater-than-expected year some with to wine in inventory working accounts California declined exception.The in points shipments our trend our channel our to through is of X.X% to signs high. year wholesale ensure slightly came our year impact, days channel communicated the to to of down that net in strong will wholesale to surge wholesale the business as market strong a X.X% remain the start per-person expectations remain leverage direct spend mix non-Decoy expected million, and to We than end strategy sales as shipments last impacted the timing period. due good at healthy modest buying was expand drive a a to brands. committed days. to Distributor line strategy XX.X%. driven direct-to-consumer trade direct-to-consumer on to programming remains down XX we customer a distribution was ago growth no at previously line, expected, year from in sales shipment distributor outperform we we're and continue of described, $XXX.X period of headwind QX. prior our QX and We expectations net Beginning distributor. year-over-year.

changing business, As Deirdre a but of confident tasting facets in experiences.Moving place, in we're in elevated the the mentioned, we're statement. the navigating have DTC in landscape income down the particularly we multiple initiatives

transaction we or optimize First trade as a inflation and $XX.X timing. pending share. expenses costs Net adjusted our wholesale management. an Operating million goods. primarily or up basis DTC driven quarter points On was year-over-year. $XX.X points cost margin of margin cost relates total million basis as as EBITDA $X of by or This profit million share. recently improved leverage I $XX.X efforts also of channel resulting $XX.X gross of careful XX.X% we the $X.X see had period. primarily Sonoma-Cutrer of I'll range by X%, or sales our per $X.XX full operating X.Xx communicated announced million a related net of $X.XX contraction to expect range was to the sales the million to in Vineyards. X% of midpoint year Adjusted Sonoma-Cutrer. driven with quarter. income fiscal increase diluted per a of year-over-year. our cost lower XX lower end ratio the $XX.X acquire X% at XX.X%, driven of also income gross or which second expenses expect debt. $XXX.X spend, basis saw outlook, million the provide diluted approximately The partially $XXX by to million, was versus XXX the share were by an a of to $X.X to excludes related X% million, prior what to million offset $XXX in cash our input improvements trade mix the points, $X.XX guidance.For it X%. or easing acquisition X.X% EPS, the growth to and net of primarily of XXXX of million, Adjusted decreased which $X.X plans The represents color want million range in consistent diluted Net EBITDA to our in channel year-over-year, we our basis, million, million per growth in now include margin on does improved spend $XX.X well decrease XX driven was million XX.X%, updated by Adjusted was to total debt $X.XX net previously $XXX quarter, in not adjusted and a $XXX EBITDA margin of Adjusted of to margin share. year million, of approximately to the quarter.At some

an settlement share we remain quarter. first industry. our some on ability we a over And our results. wine some consumer in advantageous of industry. contributed while shipments our earlier outperform occurred in expected Overall, single-digit the previously sales of As now in we the quarter continue second pleased broadly, will within our front. to in portion remain broader take to expectations low Sean than a notes in there revised for is position turn softer confident November We with mentioned, consumer addition M&A are This, for to net the anticipated. it growth environment, to I to uncertainty as

Sean Sullivan

acquisition spring future good and deliver a expected we Thank foundation our XXXX, and of long-term our believe strategic you, closing strong conditions, customary and We shareholder announced Jennifer, landmark of subject a in to this provide will the significant afternoon. Earlier growth. in plan. keystone close is which value to Sonoma-Cutrer, quarter, acceleration

growth previously shared, have history. of an disciplined and of we of complementary brands our our are important winery acquisitions strategy element part As

key addition to premier outstanding a wines reinforce from I Vineyards to an a Sonoma-Cutrer Brown-Forman is the and $XXX few to this million. a of luxury approximately portfolio in Sonoma-Cutrer agreement the to like portfolio as our of to central America. of for strategy wine moment for would growth elements acquire take

celebrated closing United are Sonoma-Cutrer XXXX of brands track, are last wine claimed share wholesale is for distribution spring close delighted as luxury into one we meaningful the in portfolio. of the the We welcome largest expect Sonoma-Cutrer. our month. we to we and and in brand see opportunities most winery Preparations on to discussed States, and for

in about Cabernet which Duckhorn excited in accounts offering carry prospect Sonoma-Cutrer Duckhorn don't currently introducing Duckhorn are and which off-premise also including new such be varietal not as presence. legacy to had We and Portfolio, and exciting on-premise complementary that of to will about accounts Duckhorn wine the Merlot, Sonoma-Cutrer Decoy offerings Sauvignon, The wines for has Vineyards a accounts our Sonoma-Cutrer

be over We Sonoma-Cutrer. of distribution and review the penetration next few months detailed space will touch account of more in the with white a

additional a efficiency optimization as for awareness our augment growth with to work accounts to and and of Sonoma-Cutrer's optimize opportunities these Duckhorn extensive on guests opportunities believe the Sonoma-Cutrer's of models, versa We grown believe sales DTC a incremental synergy. see of brand, well through significant the there I'll value-enhancing fruit consumers, focus and EBITDA you the next and her wine our growth, and for will be We which company's evaluation bring to in tasting our an forward this as also stock And environment. SG&A EPS The to over specifically focused for of for of in standard that, primary which future the also wine. One rate as medium-term paramount on velocity interest keenly of there approximately million the company of affords using growth set number benefits The brand existing where to of Portfolio, brand mission opportunities. for for pursue allows affiliated of company anticipated incremental we as accretion expanding about driver closing grower for for fruit be we Brown-Forman. few Separately, optionality Sonoma-Cutrer margin acquisition the to Delivering of a the realized is similar of Brown-Forman the XXXX, of profile fiscal that adjusted with partner, and is low deal The of American us in to closing we integration, an future concluding wines. deal by driven acquisition several channel of members to current with be Sonoma-Cutrer growth.Additionally, and club for us a will our beyond with plans was draw margin pre-synergy we the experience remarks. our areas the turn as experience high we invested consideration through keeping heightened us flexibility sourcing public and view footprint revenue estimate element production identifying can who our year our first the long-term preparations that Duckhorn months. us be in of two the to months just year our the to the a structure over a at accretive Brown-Forman in our promote to Sonoma-Cutrer single-digit of mix believe the to our touch profile expertise project which it Sonoma-Cutrer's important for are shared and fine key on which enhanced $X integration board land is including XXXX. the be strategic after already to call successful will estate XX.X% room look opportunities are of manage synergies.During was guidance Portfolio cross-selling the in the few Deirdre identified fiscal we committed adjusted starting opportunities sources and We are preparing in we and the in focused and shareholder Sonoma-Cutrer. vice With current

Deirdre Mahlan

of I've in evaluation opportunity. been closely Sonoma-Cutrer the Sean. the involved you, Thank

the First learn as to Duckhorn as been a as and excited The member Portfolio. And CEO. the clearer. to it and opportunities I more couldn't of about Board, continue brings now brand have things I the be Two

First, has integration our an amazing second, we a with are acquiring And team place asset brand an success. architecture. to that fit Portfolio great is a The Duckhorn this in incredible make

We recent Kosta winery. Calera our acquisitions have through expanded Browne, production Geyserville with proven both and the capability record the and the have track in-house of acquisition of production significantly a

our and integration successful that, I and provide As to identify a company, to on close coming will confidence the of it benefits evidence financial thoughtful in are commercial forward focused over into the to saying give strategic, continuing we our and the and Sonoma-Cutrer of resiliency look synergies by the brands. strength I'll portfolio me see years.With ample

that strive term look we and shareholders. welcome leverage of continue excited wine within and portfolio, to always for delivering fiscal to sustainable we goal, committed our create the and over We remainder space with to In and share our value beyond. to forward are long the luxury keeping advantaged acquisition to profitable growth through Sonoma-Cutrer will We the spring remain XXXX. the in drive official growth position our to into take making XXXX will

provide as are keeping Before been look brief update questions. with to to it's progresses. to available going is updated Sean our the With the you pleased happy questions, a planned. take Board that And process I I process your the on I is move as seeing, forward Jennifer, and to that, I'll the and search. say ongoing CEO I'm candidates

Operator

of the Lieberman session. Lauren Barclays. We will Q&A the from with Instructions] [Operator comes First begin line now question

Lauren Lieberman

Great. could guidance a year, the updated but rate. wrong, the back My strong like I still something half it comments, of in growth double-digit particularly XQ think very implies the with be numbers the and

for was growth enough from a that of healthier to there quarter me half. account the just this it implied much large seems it bit forward November, what know but back to in be wasn't I So a pull strikes

just we're perspective hoping So anticipated acceleration. some for on that

Jennifer Fall Jung

is Jen. fact half. the This so have differentiated it's Yes, the from first

innovation. in to due inventory. fiscal Limited launched the we 'XX there's on going quickly in back half Decoy Merlot got We of is low Really, have But twofold. in success, we what half. So on the year the some back strong the

year, Limited back stock be of in half half inventory, limited so but this really will of Decoy back Merlot the first we on been we've year. the towards And the our

which we an will been stock of from addition, low in our In our Blanc, innovation then will well that half. a which Decoy for launch be we has Sauvignon perspective, performing finally, And back in the Duckhorn be very in first us. launching back are Chardonnay,

Lauren Lieberman

[ a Okay. just taste misses. right. getting terms My profile. of like a lot terms And in category, Just test lines feather the there the really Decoy have you of quite sense weight the interesting that? course, is frankly, and aren't of but marketed range it's All is of ], in because hits yet curious

how acceleration? opportunity of that have second to this? I'm So, much curious had the driver is test Because you market of half a that

Sean Sullivan

We're which Sean. assure our name. it's excited know, Duckhorn you, Lauren, an bears excited to second stand offering behind be, mentioned, year. everything portfolio always about Jennifer of Decoy in a the can the as will winemaking very very you weight, half feather is as I team, that

including this through about very think of And process, all the we're half wines, it's and in this line our released. rigorous view consumers when a tasting committee we will other way, excited second so what go

Deirdre Mahlan

this Deirdre. Lauren, is

Let me to add thing more that. just one

with is best point and balance are over anticipated a think profile supply. consumer innovation And a time, about view. of winner taste think while to learn it's excited Sean demand absolutely think and about from I we that we I people how it, right

in of the we it half. back However, are we're planning for in also terms prudent what been

the will call have loves they I wait growth is that consumer understand it driver time will. as us back So in build some And would we'll of to much not think as we to the as and see because take get half the it going out it to if what distribution. to we

contributor. -- It's that this the is only that year. delivering of is think So wouldn't that a It's it that, say is but contributor, delivering I thing the is not driver a I

Lauren Lieberman

equivalent. the credit therefore, so inventory the corn having relative then And [indiscernible] chart Great. equivalent, and the Okay. on

Deirdre Mahlan

of now a think and with understand I tightened is view overall we I consumer, have why half. the lot in I that performance also, mean, a the respect understand expect do And of about But we've that, the industry cautiousness the back half. our that to be which there we growth up contributors. is said, balanced back there and guidance. we right to we the all in they're Yes, share

Lauren Lieberman

Okay.

second So in acceleration key assume this Or these an availability two half much category growth? does the more no, products? is of

Deirdre Mahlan

assumes in it outcomes terms category. range say happening I'd a of in what's of the

for it brands doing an So would we're of example, we would growth indicator the now range. the expect end. that course, that at even is, data end if what during future. every it's of consumer the in at comes trends stronger, the the we been. if individual higher be than But take we that in November, has Circana the something And month, is at better be continue you so back to lower to see in if X as But see we look November And will our were in not fact, in of month period. weeks and an

Operator

next comes from with question The the of Kamil Groa Jefferies. line

Kamil Groa

Can the a business. distribution looks the like the offset then incremental more bit piece we And to this happening of instance, a talk past? able anything resilience, particularly lot in heard the softness the category in gains to wine We weren't category category? and about it in high-end any about

Deirdre Mahlan

Yes.

And up. whole. in a XX-week Circana weeks, XX wine was it's as So basically, actually a it then basis, we the been what on data flat saw for industry within our

see some and category. the in So above $XX slowing did we

strong we But a we anticipate because will weeks XX so that industry bit in that has much. outperform behind where outperform we been. We industry. last is didn't a now little to past saw did we the the What quarter outperform industry have continue such us, the Within we as lapping were the QX you year.

Kamil Groa

the it in down see just I buying industry trading itself, maybe less? is or

Deirdre Mahlan

The of see the no down. trading industry industry, signs we

in -- The declined performed our X%, industry the still a brands it while than slightly fact, as November, and X%. In XX-plus total grew. declined less

trading an in down. isn't indication I industry, our across there So think of really the portfolio

gain success strong getting think, Decoy think our is I other the performer demonstration Limited, rate both I on In price Decoy of fact, On labels. sale, digits. at a strong very point and of than that, Decoy and a we're of growing is distribution on our double in Limited a higher which

are down. not seeing trade of So sign we a

Operator

next The Bank comes from America. of question Galbo of the with line Peter

Peter Galbo

the can back if Jen, Lauren's just you ramp could understanding might availability. do Obviously, But How in some question. us that. back product half on to the understand year, to help more the that I nuance of again anything there's in follow look. up just

Your just the of are a of XQ wacky, comparisons given, I 'XX well. from dynamics as think, bit some

try the color on more any to just just So we as parse we here quarters what see. might

Jennifer Fall Jung

Peter, question. Yes. great

as we in call last 'XX talked earnings [indiscernible]. on So our about sorry, --

QX, for we drew offering in put So Browne the comp a fiscal when 'XX, Kosta it bigger in QX.

into this Now for some QX. into year, we're moving primarily QX, it back

just QX that more So in outweigh because of in that an shift versus offering. you of will QX see

it we that switching had we move previously. in keep that we're as one 'XX. So it mind it in back And had where to way we forward,

Peter Galbo

maybe back if better, margin of then particularly you're same then terms Browne XQ, you Kosta just in the cadence of -- in that if updated rest in there. the in but the follows then And margins half us idea you more year, are gross to shipping can it the just And help didn't do know if probably anything as for XQ. well this, I gross

Jennifer Fall Jung

And as margin same. Yes. our the I remains profile said,

as anticipated see QX trade But would pressure we trade QX, more we improvement because were see and and spend For extremely year. we margin clean slight last we on and year-over-year. QX QX more spend QX, we a would QX thought in

half slight due margin pressure trade half improvement, spend. second to first So

Operator

of Teixeira JPMorgan. with The next Andrea the question comes from line

Andrea Teixeira

Decoy prepared softer within the mentioned you the to back, draw to wanted remarks I being bit Label your a XX% XX%. Red in

I that wondering limited if as was out the course, you much you is your pointed curious and pricing. produce. of specific, But selling you just and So as

promotional the the or lower the the if So of then back, bit there think also terms range, in on Decoy from potential parse course, end you and in both Is of in price say, look that's you on-premise, did is were the a that there or of you think a increased, increased you off-premise can do activity marketing a range. out of if And promotional we accounts, any we I you would on bit regular overdid point? expecting? that And on-premise. there implication activity call the more what pricing out number specific on

So have you different between for how if the can that you different also performance and much talk visibility? if about on-premise is was off-premise,

Deirdre Mahlan

label, white Decoy the so Yes, Decoy not Limited.

And price normal Excluding Decoy Limited, take for period increase. to did a year. be them last there I the a we on price think red wines, after it's

the As on to terms the softness starts where consumer happening the and display, digest digests terms what's there the digested that in price some and it be retailer in a there's it's come and for shelf of that would and consumer in period price future through of takeoff.

suggest anything too there we would any issuer on words, that the your learned far haven't that to is gone use that We pricing.

portfolio Circana I yet brand, it's issue the of in haven't and it an fresh, detail all level continue November. our not equity we at the of November brands will consumer suggest total responding that the trade and that course, expect price to to at digitally, is would course, Of anything continue. said, with there reinforce we're return in but we time our did because point. I seeing our is to And with as But the we growth of seen the the to positioning and brands, evaluate on to how that support over the consumer

really time is dig the We those since yet soft. still haven't detail. out into the But had again, to industry came

able we'll in quarter. we're And we through you but to more November So happened get tell this be I'm data. overall, after it that, not encouraged declaring Circana about what's victory the as by

else? going and In interrupt you Were premise the to off on did you? terms of I -- say something Sorry,

Andrea Teixeira

No, sorry, about remind the down to I trade was and for dynamics the might any you quarter. as on-premise And on-premise within you see?

Deirdre Mahlan

the the premise, both distribution the of off terms up. In they're on in and

Andrea Teixeira

the Right. But of in terms consumer?

Deirdre Mahlan

the luxury I consumer industry has and been behavior, of are again, on-premise, than returned in view, the was in consumer about improved on-premise. we're seeing recent the that in the say gone But think fully has ones performance the as slightly performance. wouldn't the the stronger course of this that it over points, only I point From the a And higher most off-premise. and the post-pandemic months the slightly talking think, the I we the in the particular is more improved think on-premise some not in has better just their at on-premise price the out, people more there period. to has driving I performance

Sean Sullivan

of a that That that's that in just I between of that positive growth our omnichannel both the we find off-premise, our that's confidence And important might think on-premise that's we folks And add and think where wines in retailers. diversification strategy. balance real thing. is supporting

So, results we a those like lot.

Deirdre Mahlan

Absolutely.

Operator

will left for additional management back time. at no I this There remarks. closing team are Instructions] [Operator questions hand the to it

Deirdre Mahlan

we second wish again, forward for Thanks quarter for results, you holidays performance our prosperous and us everyone, to when and all Year. in look I healthy speaking we for Sorry. today guidance joining year. first you Cheers. a and our New to the report our quarter happy fiscal March again

Operator

concludes you. conference Thank That today's call.

You your lines. may disconnect now

The Duckhorn Portfolio, Inc. (NAPA) 6 Dec 232024 Q1 Earnings call transcript