05:12 PM EST, 03/07/2024 (MT Newswires) -- Duckhorn Portfolio ( NAPA ) reported fiscal Q2 adjusted net income late Thursday of $0.18 per diluted share, flat from a year earlier.

Analysts polled by Capital IQ expected $0.18.

Net sales in the quarter ended Jan. 31 were $103.0 million, down from $103.5 million a year earlier. Analysts surveyed by Capital IQ expected $105.1 million.

The company said it now expects adjusted earnings of $0.63 to $0.65 per diluted share for fiscal 2024, lower than its previous guidance of $0.67 to $0.69. Analysts surveyed by Capital IQ expect $0.67.

It also lowered its fiscal 2024 net sales guidance to a range of $395 million to $411 million from $420 million to $427 million previously. Analysts in a Capital IQ poll are looking for $422.0 million.

Duckhorn Portfolio ( NAPA ) shares were down 3.6% in after-hours activity.

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