Duckhorn’s First Public Earnings “Exceeds Expectations”

Dear Client: Duckhorn Wine Co. released its first public earnings yesterday after officially going public earlier this year [see WSD 02-24-2021], and the company's results exceeded their expectations.  Net sales were up 31.6% to $90.4 million for the third quarter ended April 30. That growth was driven primarily by a 41% boost in volumes for the quarter, which was partially offset by -9.4% mix contribution.  "Nearly as impressive as our sales growth, our depletions grew generally at a similar rate,