2023-06-09 08:30:20 ET
The Duckhorn Portfolio press release ( NYSE: NAPA ) shares surged over 7% in premarket action on Friday, benefitting from a Q3 report that topped expectations on Thursday evening.
The California-based vintner notched GAAP EPS of $0.15, 50% above the analyst consensus. Meanwhile, revenue that was essentially flat year over year edged the expectation of a modest decline set on the Street. Adjusted EBITDA was $35.8M, an increase of 9% from the prior year period.
Management now sees net sales between $400M and $404M, in line with the $402.1M consensus. An adjusted EPS guide between $0.64 to $0.66 also met the $0.65 consensus. Management had previously forecast $0.63 to $0.65 in earnings per share on between $398M and $404M in sales.
An adjusted EBITDA guide of between $138M and $140M, was also raised from a prior guide of $135M to $138M. Shares of DUckhorn Portfolio ( NAPA ) rose 7.01% before the bell on Friday.
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The Duckhorn Portfolio stock flies higher on hiked forecasts