The Duckhorn Portfolio on Wednesday reported net income of $5.4 million for the fourth quarter, down 27% from the same period in 2021.
Duckhorn, the St. Helena-based company that owns Kosta Browne in Sebastopol and Goldeneye in Mendocino County, reported net sales of $78 million, an increase of $7.1 million and 10 % more than in the fourth quarter of last year.
For the full year, its net sales were $372.5 million, an increase of 10.7% over the previous year.
The company said net sales for fiscal 2023 would be between $393 million and $401 million. He added that the expected price increases should offset the cost of inflation.
“Luxury continues to grow, albeit at a slightly slower pace than previous periods,” Duckhorn president and CEO Alex Ryan said on 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 Wine Star Person of the Year 2022 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, according to the magazine. O’Neil is also co-owner of Ram’s Gate Winery in Sonoma and is the founder of the Velocity Invitational, an annual luxury wine and motorsports festival held at Weathertech Raceway Laguna Seca in Monterey.
The company obtained B Corporation certification last year. and received this year’s California Green Medal Leader Award from the Wine Institute.
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 December 1st.
The event is the largest industry trade show in Sonoma County and also features panel discussions on such important topics as how to combat climate change through winemaking practices and how to retain staff. in a tight labor market.
Tickets are available at https://wineindustryexpo.com.
Compiled by Bill Swindell. Submit articles to [email protected]