Sales decline in Q1 leads to revised outlook
- Duckhorn Portfolio lowers top end of FY24 revenue guidance
- Sales sank in the first quarter
- Full-year sales expected to be $420 million to $427 million
- Analysts expect full-year sales of $431.4 million
- Company backs full-year outlook for adjusted earnings
- First quarter sales missed analysts’ estimates
- Company’s profit fell more than expected
Duckhorn Portfolio has announced a revision to its fiscal 2024 revenue guidance, lowering the top end of the range. The company experienced a decline in sales during the first quarter, which fell short of analysts’ estimates. As a result, Duckhorn now expects full-year sales to be in the range of $420 million to $427 million, compared to the previous guidance of $420 million to $430 million. Analysts polled by FactSet have projected full-year sales of $431.4 million. Despite the sales setback, the company maintains its outlook for adjusted earnings of 67 cents to 69 cents per share. Additionally, Duckhorn’s profit for the quarter also declined more than anticipated.
Factuality Level: 8
Factuality Justification: The article provides specific information about Duckhorn Portfolio lowering its revenue guidance and missing sales estimates in the first quarter. It also includes information about analysts’ expectations and the company’s profit falling more than expected. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It is focused on the main topic and provides accurate and objective information.
Noise Level: 7
Noise Justification: The article provides some relevant information about Duckhorn Portfolio lowering its revenue guidance and missing sales estimates in the first quarter. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not explore the consequences of these events on stakeholders or hold powerful people accountable. The article could benefit from providing more context and data to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Winemaking industry
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Duckhorn Portfolio, a winemaker. It provides information about the company’s lowered revenue guidance and missed sales estimates, which can impact the winemaking industry.
Public Companies: Duckhorn Portfolio (N/A)
Key People:
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