Duckhorn Portfolio Falls As Co. Expects Annual Results Below View

(RTTNews) - Shares of luxury wine company The Duckhorn Portfolio, Inc. (NAPA) are down more than 6% Thursday morning after it provided full-year outlook below analysts' view.

The company expects adjusted EPS of $0.67-$0.69 and revenue of $420 million - $430 million for the full year. Analysts on average polled by Thomson-Reuters expect the company to report earnings of $0.70 per share on revenue of $432.51 million.

For the fourth quarter, net income was $17.8 million, or $0.15 per share, higher than $5.4 million, or $0.05 per share, in the prior year period.

Excluding one-time items, adjusted net income was $16.7 million, or $0.15 per diluted share, that beat the consensus estimate at $0.13 per share.

Net sales were $100.1 million, an increase of 28.3%,from the prior year period.

NAPA is at $11.01 currently. It has traded in the range of $10.64 - $17.92 in the last 1 year.