Duckhorn reports drop in net income for the fourth quarter

Duckhorn, the St. Helena-based company that owns Kosta Browne in Sebastopol and Goldeneye in Mendocino County, did report that its net sales were $78.0 million, which was an increase of $7.1 million that represented 10% more than the fourth quarter last year.|
BILL SWINDELL
THE PRESS DEMOCRAT

The Duckhorn Portfolio reported on Wednesday net income of $5.4 million for the fourth quarter, which was a 27% decrease from the same time period in 2021.

Duckhorn, the St. Helena-based company that owns Kosta Browne in Sebastopol and Goldeneye in Mendocino County, did report that its net sales were $78 million, which was an increase of $7.1 million and 10% more than the fourth quarter last year.

For the overall fiscal year, its net sales were at $372.5 million, which was a 10.7% increase over the prior year.

The company provided guidance that the net sales for fiscal 2023 would be between $393 million and $401 million. It added that planned price hikes should offset the cost of inflation.

“Luxury continues to grow, albeit at a slightly slower rate than the previous periods,” said Alex Ryan, president and CEO at Duckhorn in a conference call with analysts.

O'Neill honored with magazine award

Jeff O'Neill, founder and CEO of Larkspur-based O'Neill Vintners & Distillers, has been awarded the 2022 Person of the Year Wine Star Award by Wine Enthusiast magazine.

After leading publicly traded Golden State Vintners for 20 years, he founded O'Neill Vintners & Distillers in 2004, which is now the 10th largest winery in the United States, the magazine stated. O’Neil also is part owner of Ram's Gate Winery in Sonoma and is the founder of Velocity Invitational, an annual luxury wine and motor sports festival hosted at Weathertech Raceway Laguna Seca in Monterey.

The company achieved B Corporation certification last year. and this year received the Wine Institute's California Green Medal Leader Award.

December wine conference planned

The 10th-annual North Coast Wine Industry Trade Show and Conference will be held at the Sonoma County Fairgrounds and Event Center in Santa Rosa on Dec. 1

The event is the industry’s largest trade show in Sonoma County and also features panel discussions over such important topics as how to address climate change through winemaking practices and how to retain staff amid a tight labor market.

Tickets are available at https://wineindustryexpo.com.

Compiled by Bill Swindell. Submit items to bill.swindell@pressdemocrat.com.

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