It didn’t take much to stir Jack Eichel’s national pride in looking ahead to representing the United States at the 4 Nations Face-Off tournament . Appearing on a Team USA Zoom call on Thursday, the Vegas Golden Knights forward jumped right in when reminded how U.S. teams featuring NHL players competing in best-on-best international tournaments haven’t won a gold medal since the 1996 World Cup of Hockey series. “I’ll take it,” Eichel interjected after Bruins defenseman Charlie McAvoy apologized for not hearing the question. “I think there’s a lot to prove for us as USA Hockey,” Eichel said. “I think for a while it was Canada on a pedestal by themselves. And I think for us, we feel like we’ve closed that gap. And I think this is a great opportunity to prove that.” From the Boston area, Eichel supported his case by referring to the growing pool of American talent that’s entered the NHL though the U.S. national development program over the past decade. And that’s reflected in how a majority of the U.S. team’s 23-player roster is made up of USNDP alumni, Eichel included. “Obviously, we feel very confident in our group and the names on our roster,” Eichel said. “But that’s only half the battle. You’ve got to go out there and do it. And we’re excited for that opportunity.” The 4 Nations Face-Off was unveiled last All-Star Weekend. It splits NHL players from Canada, Finland, Sweden and the U.S. into four teams, replacing the All-Star Game format this season. Eichel’s comments came a day after the nations unveiled their entire rosters to compete in the NHL/NHL Players' Association-backed tournament being split between Montreal and Boston and running from Feb. 12-20. Though talented, the Americans have lacked success at the senior international level. The U.S. last medaled at the world championships by winning bronze in 2021, and hasn’t placed better than third since 1960 at Squaw Valley, which also doubled as the Winter Games. The Americans' last Olympic gold came with amateurs competing at the 1980 Lake Placid Games, since dubbed the “Miracle On Ice,” while winning silver medals with NHL players in 2002 and 2010 — both times losing to Canada. And then there was 1996, when goalie Mike Richter earned World Cup MVP honors in helping the Americans beat Canada in a decisive Game 3 of the final series. “I think we check every box there is,” McAvoy said. “I think the confidence amongst us in our group should be sky high.” The U.S. team’s brain trust, headed by Wild GM Bill Guerin and Penguins coach Mike Sullivan, prioritized experience over potential in filling out the 17 remaining roster spots. Forwards Chris Kreider, of the Rangers, and Brock Nelson, of the Islanders, are the oldest players on the team at age 33, and have extensive world championships experience. The youngest player is also the only one with Olympic experience: 22-year-old Minnesota defenseman Brock Faber, who played at the Beijing Games in 2022 when the NHL pulled out because of pandemic-related scheduling issues. They’ll go up against a talent-laden Team Canada that features forwards Connor McDavid, Sidney Crosby, Nathan MacKinnon and defenseman Cale Makar. The U.S. team is particularly strong down the middle with Eichel, Auston Matthews and Dylan Larkin. Another strength is in net with a trio led by two-time Vezina Trophy-winner Connor Hellebuyck and rounded out by Jake Oettinger and Jeremy Swayman. USA Hockey has enjoyed its most success in winning two of the past four world junior championships and six since 2004. Four Nations teammates McAvoy, Oettinger and defenseman Adam Fox were members of the U.S. team that won the 2017 world junior title. Team Canada officials also went with a veteran-laden group, featuring 14 players who have won at least one Stanley Cup title. “You can’t put a price tag on experience,” Canada and Lightning coach Jon Cooper said Thursday. “I truly believe this is a tournament where you’re basically playing three Game 7s (in the preliminary round). ... There’s no real margin for error," he added. “This is as competitive a group as you will find. Every one of these players will lay in traffic for their country." The Canadian Press contributed to this story. AP NHL: https://apnews.com/hub/nhlST. HELENA, Calif.--(BUSINESS WIRE)--Dec 5, 2024-- The Duckhorn Portfolio, Inc. (NYSE: NAPA) (the “Company”) today reported its financial results for the three months ended October 31, 2024. First Quarter 2025 Highlights Net sales were $122.9 million, an increase of $20.4 million, or 19.9%, versus the prior year period. Excluding Sonoma-Cutrer, net sales declined $8.4 million or 8.2%. Net sales were negatively impacted by one-time inventory transfers, as outgoing distributors in certain states transferred unsold inventory to the new distributors in those jurisdictions. Gross profit was $61.5 million, an increase of $7.6 million, or 14.2%, versus the prior year period. Gross profit margin was 50.0%, down 250 basis points versus the prior year period. Excluding Sonoma-Cutrer, gross profit declined $5.7 million or 10.6% and gross profit was 51.1%. Adjusted gross profit was $63.8 million, an increase of $10.6 million, or 19.8%. Adjusted gross profit margin was 51.9%, versus 52.0% in the prior year. Excluding Sonoma-Cutrer, adjusted gross profit declined $4.7 million or 8.9% and gross profit margin was 51.6%. Net income was $11.2 million, or $0.08 per diluted share, versus $15.5 million, or $0.13 per diluted share, in the prior year period. Adjusted net income was $23.8 million, or $0.16 per diluted share, versus $17.2 million, or $0.14 per diluted share, in the prior year period. Adjusted EBITDA was $48.6 million, an increase of $13.9 million, or 39.9%, and adjusted EBITDA margin was 39.5%, up 560 basis points versus the prior year period. Cash was $5.4 million as of October 31, 2024. The Company’s leverage ratio was 1.7x net debt (net of debt issuance costs) to trailing twelve months adjusted EBITDA. “We are pleased to begin fiscal 2025 with strong financial performance. Our growth continues to outpace the industry as our teams remain focused on advancing our strategic initiatives,” said Deirdre Mahlan, President, CEO and Chairperson. “We believe our distinctive brands, operational excellence and market-leading performance leave us well positioned to deliver long-term growth and profitability.” First Quarter 2025 Results Three months ended October 31, 2024 2023 Net sales growth (decline) 19.9 % (5.2 )% Volume contribution 24.7 % (3.4 )% Price / mix contribution (4.8 )% (1.8 )% Three months ended October 31, 2024 2023 Wholesale – Distributors 79.3 % 77.0 % Wholesale – California direct to trade 13.9 15.6 DTC 6.8 7.4 Net sales 100.0 % 100.0 % Net sales were $122.9 million, an increase of $20.4 million, or 19.9%, versus $102.5 million in the prior year period. The increase was driven primarily by the addition of Sonoma-Cutrer, partially offset by a lower price / mix contribution. Gross profit was $61.5 million, an increase of $7.6 million, or 14.2%, versus the prior year period. Gross profit margin was 50.0%, a decline of 250 basis points versus the prior year period. Adjusted gross profit was $63.8 million, an increase of $10.6 million or 19.8% versus the prior year period, reflecting higher net sales with the addition of Sonoma-Cutrer. Adjusted gross profit margin was 51.9% a decline of 10 basis points versus the prior year, as a result of an increase in cost of goods. Total selling, general and administrative expenses were $40.8 million, an increase of $10.3 million, or 33.8%, versus $30.5 million in the prior year period. Adjusted selling, general and administrative expenses were $23.9 million, an increase of $1.3 million, or 5.8%, versus $22.6 million in the prior year period, and a decrease of 260 basis points as a percentage of net sales. Net income was $11.2 million, or $0.08 per diluted share, versus $15.5 million, or $0.13 per diluted share, in the prior year period. Adjusted net income was $23.8 million, or $0.16 per diluted share, versus $17.2 million, or $0.14 per diluted share, in the prior year period. Adjusted EBITDA was $48.6 million, an increase of $13.9 million, or 39.9%, versus $34.7 million in the prior year period. This increase was driven primarily by an increase in net sales associated with the addition of Sonoma-Cutrer and ongoing operating cost controls that resulted in slower growth of adjusted selling, general and administrative expenses as a percentage of net sales. As a result, adjusted EBITDA margin improved 560 basis points versus the prior year period. Conference Call and Webcast The Company will no longer host its earnings conference call and webcast. About The Duckhorn Portfolio, Inc. The Duckhorn Portfolio is North America’s premier luxury wine company, with eleven wineries, ten state-of-the-art winemaking facilities, eight tasting rooms and over 2,200 coveted acres of vineyards spanning 38 Estate properties. Established in 1976, when vintners Dan and Margaret Duckhorn founded Napa Valley’s Duckhorn Vineyards, today, our portfolio features some of North America’s most revered wineries, including Duckhorn Vineyards, Decoy, Sonoma-Cutrer, Kosta Browne, Goldeneye, Paraduxx, Calera, Migration, Postmark, Canvasback and Greenwing. Sourcing grapes from our own Estate vineyards and fine growers in Napa Valley, Sonoma County, Anderson Valley, California’s North and Central coasts, Oregon and Washington State, we offer a curated and comprehensive portfolio of acclaimed luxury wines with price points ranging from $20 to $230 across more than 15 varietals. Our wines are available throughout the United States, on five continents, and in more than 50 countries around the world. To learn more, visit us at: https:// www.duckhornportfolio.com/ . Investors can access information on our investor relations website at: https://ir.duckhorn.com . Use of Non-GAAP Financial Information In addition to the Company’s results, which are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company believes the following non-GAAP measures presented in this press release and discussed on the related teleconference call are useful in evaluating its operating performance: adjusted gross profit, adjusted selling, general and administrative expenses, adjusted EBITDA, adjusted net income and adjusted EPS. Certain of these non-GAAP measures exclude depreciation and amortization, non-cash equity-based compensation expense, purchase accounting adjustments, casualty losses or gains, impairment losses, inventory write-downs, changes in the fair value of derivatives, and certain other items, net of the tax effects of all such adjustments, which are not related to the Company’s core operating performance. The Company believes that these non-GAAP financial measures are provided to enhance the reader’s understanding of our past financial performance and our prospects for the future. The Company’s management team uses these non-GAAP financial measures to evaluate business performance in comparison to budgets, forecasts and prior period financial results. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided herein for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Readers are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. For example, all statements The Duckhorn Portfolio makes relating to its estimated and projected financial results or its plans and objectives for future operations, growth initiatives or strategies are forward-looking statements. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to manage the growth of its business; the Company’s reliance on its brand name, reputation and product quality; the effectiveness of the Company’s marketing and advertising programs, including the consumer reception of the launch and expansion of our product offerings; general competitive conditions, including actions the Company’s competitors may take to grow their businesses; overall decline in the health of the economy and the impact of inflation on consumer discretionary spending and consumer demand for wine; the occurrence of severe weather events (including fires, floods and earthquakes), catastrophic health events, natural or man-made disasters, social and political conditions, war or civil unrest; risks associated with disruptions in the Company’s supply chain for grapes and raw and processed materials, including corks, glass bottles, barrels, winemaking additives and agents, water and other supplies; risks associated with the disruption of the delivery of the Company’s wine to customers; disrupted or delayed service by the distributors and government agencies the Company relies on for the distribution of its wines outside of California; the Company’s ability to successfully execute its growth strategy; risks associated with our acquisition of Sonoma-Cutrer Vineyards, Inc.; decreases in the Company’s wine score ratings by wine rating organizations; quarterly and seasonal fluctuations in the Company’s operating results; the Company’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; the Company’s ability to protect its trademarks and other intellectual property rights, including its brand and reputation; the Company’s ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; the risks associated with the legislative, judicial, accounting, regulatory, political and economic risks and conditions specific to both domestic and to international markets; claims, demands and lawsuits to which the Company is, and may in the future, be subject and the risk that its insurance or indemnities coverage may not be sufficient; the Company’s ability to operate, update or implement its IT systems; the Company’s ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company’s potential ability to obtain additional financing when and if needed; the Company’s substantial indebtedness and its ability to maintain compliance with restrictive covenants in the documents governing such indebtedness; the Company’s largest shareholders’ significant influence over the Company; the potential liquidity and trading of the Company’s securities; the future trading prices of the Company’s common stock and the impact of securities analysts’ reports on these prices; and the risks identified in the Company’s other filings with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company’s filings with the SEC, available at www.sec.gov , for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. THE DUCKHORN PORTFOLIO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except shares and per share data) October 31, 2024 July 31, 2024 ASSETS Current assets: Cash $ 5,407 $ 10,872 Accounts receivable trade, net 88,016 52,262 Due from related party 222 10,845 Inventories 530,293 448,967 Prepaid expenses and other current assets 11,040 14,594 Total current assets 634,978 537,540 Property and equipment, net 568,391 568,457 Operating lease right-of-use assets 26,369 27,130 Intangible assets, net 190,577 192,467 Goodwill 484,379 483,879 Other assets 7,470 7,555 Total assets $ 1,912,164 $ 1,817,028 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 66,357 $ 5,774 Accrued expenses 69,346 34,164 Accrued compensation 7,994 11,386 Deferred revenue 12,264 80 Current maturities of long-term debt 9,721 9,721 Due to related party 342 1,714 Other current liabilities 4,250 3,905 Total current liabilities 170,274 66,744 Revolving line of credit 83,000 101,000 Long-term debt, net of current maturities and debt issuance costs 198,263 200,734 Operating lease liabilities 23,579 24,286 Deferred income taxes 151,104 151,104 Other liabilities 694 705 Total liabilities 626,914 544,573 Stockholders’ equity: Common stock, $0.01 par value; 500,000,000 shares authorized; 147,200,572 and 147,073,614 issued and outstanding at October 31, 2024 and July 31, 2024, respectively 1,472 1,471 Additional paid-in capital 1,012,874 1,011,265 Retained earnings 270,299 259,135 Total The Duckhorn Portfolio, Inc. stockholders’ equity 1,284,645 1,271,871 Non-controlling interest 605 584 Total stockholders’ equity 1,285,250 1,272,455 Total liabilities and stockholders’ equity $ 1,912,164 $ 1,817,028 THE DUCKHORN PORTFOLIO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except shares and per share data) Three months ended October 31, 2024 2023 Sales $ 124,669 $ 103,903 Excise tax 1,727 1,394 Net sales 122,942 102,509 Cost of sales 61,442 48,656 Gross profit 61,500 53,853 Selling, general and administrative expenses 40,798 30,483 Income from operations 20,702 23,370 Interest expense 5,115 4,004 Other expense (income), net 117 (1,813 ) Total other expenses, net 5,232 2,191 Income before income taxes 15,470 21,179 Income tax expense 4,285 5,629 Net income 11,185 15,550 Net income attributable to non-controlling interest (21 ) (13 ) Net income attributable to The Duckhorn Portfolio, Inc. $ 11,164 $ 15,537 Earnings per share of common stock: Basic $ 0.08 $ 0.13 Diluted $ 0.08 $ 0.13 Weighted average shares of common stock outstanding: Basic 147,128,486 115,339,774 Diluted 147,186,767 115,451,719 THE DUCKHORN PORTFOLIO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) Three months ended October 31, 2024 2023 Cash flows from operating activities Net income $ 11,185 $ 15,550 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 10,631 7,329 Gain on disposal of assets (61 ) (42 ) Change in fair value of derivatives 137 (1,889 ) Amortization of debt issuance costs 194 194 Equity-based compensation 2,254 1,150 Change in operating assets and liabilities; net of acquisition: Accounts receivable trade, net (35,754 ) (22,547 ) Due from related party 10,623 — Inventories (80,443 ) (66,115 ) Prepaid expenses and other current assets 3,550 1,781 Other assets (212 ) 283 Accounts payable 61,149 28,045 Accrued expenses 37,058 51,985 Accrued compensation (3,392 ) (7,808 ) Deferred revenue 12,184 11,132 Due to related party (1,372 ) — Other current and non-current liabilities (496 ) (982 ) Net cash provided by operating activities 27,235 18,066 Cash flows from investing activities Purchases of property and equipment, net of sales proceeds (11,556 ) (10,395 ) Net cash used in investing activities (11,556 ) (10,395 ) Cash flows from financing activities Payments under line of credit (18,000 ) (13,000 ) Borrowings under line of credit — 23,000 Payments of long-term debt (2,500 ) (2,500 ) Taxes paid related to net share settlement of equity awards (644 ) (342 ) Net cash (used in) provided by financing activities (21,144 ) 7,158 Net (decrease) increase in cash (5,465 ) 14,829 Cash - Beginning of period 10,872 6,353 Cash - End of period $ 5,407 $ 21,182 Supplemental cash flow information Interest paid, net of amount capitalized $ 4,585 $ 4,009 Income taxes paid $ — $ 11,607 Non-cash investing activities Property and equipment additions in accounts payable and accrued expenses $ 2,568 $ 3,300 THE DUCKHORN PORTFOLIO, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted gross profit, adjusted selling, general and administrative expenses, adjusted net income, adjusted EBITDA and adjusted EPS, collectively referred to as “Non-GAAP Financial Measures,” are commonly used in the Company’s industry and should not be construed as an alternative to net income or earnings per share as indicators of operating performance (as determined in accordance with GAAP). These Non-GAAP Financial Measures may not be comparable to similarly titled measures reported by other companies. The Company has included these Non-GAAP Financial Measures because it believes the measures provide management and investors with additional information to evaluate business performance in comparison to budgets, forecasts and prior year financial results. Non-GAAP Financial Measures are adjusted to exclude certain items that affect comparability. The adjustments are itemized in the tables below. You are encouraged to evaluate these adjustments and the reason the Company considers them appropriate for supplemental analysis. In evaluating adjustments, you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments set forth below. The presentation of Non-GAAP Financial Measures should not be construed as an inference that future results will be unaffected by unusual or recurring items. Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that the Company calculates as net income before interest, taxes, depreciation and amortization, non-cash equity-based compensation expense, purchase accounting adjustments, transaction expenses, acquisition integration expenses, changes in the fair value of derivatives and certain other items which are not related to our core operating performance. Adjusted EBITDA is a key performance measure the Company uses in evaluating its operational results. The Company believes adjusted EBITDA is a helpful measure to provide investors an understanding of how management regularly monitors the Company’s core operating performance, as well as how management makes operational and strategic decisions in allocating resources. The Company believes adjusted EBITDA also provides management and investors consistency and comparability with the Company’s past financial performance and facilitates period to period comparisons of operations, as it eliminates the effects of certain variations unrelated to its overall performance. Adjusted EBITDA has certain limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of these limitations include: although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; adjusted EBITDA does not reflect changes in, or cash requirements for, the Company’s working capital needs; adjusted EBITDA does not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company’s debt; adjusted EBITDA does not reflect income tax payments that may represent a reduction in cash available to the Company; and other companies, including companies in the Company’s industry, may calculate adjusted EBITDA differently, which reduce their usefulness as comparative measures. Because of these limitations, you should consider adjusted EBITDA alongside other financial performance measures, including net income and the Company’s other GAAP results. In evaluating adjusted EBITDA, you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this presentation. The Company’s presentation of adjusted EBITDA should not be construed as an inference that the Company’s future results will be unaffected by the types of items excluded from the calculation of adjusted EBITDA. Adjusted Gross Profit Adjusted gross profit is a non-GAAP financial measure that the Company calculates as gross profit excluding the impact of purchase accounting adjustments (including depreciation and amortization related to purchase accounting), non-cash equity-based compensation expense, and certain inventory charges. We believe adjusted gross profit is a useful measure to us and our investors to assist in evaluating our operating performance because it provides consistency and direct comparability with our past financial performance between fiscal periods, as the metric eliminates the effects of non-cash or other expenses unrelated to our core operating performance that would result in fluctuations in a given metric for reasons unrelated to overall continuing operating performance. Adjusted gross profit should not be considered a substitute for gross profit or any other measure of financial performance reported in accordance with GAAP. Adjusted Net Income and Adjusted Selling, General and Administrative Expenses Adjusted net income is a non-GAAP financial measure that the Company calculates as net income excluding the impact of non-cash equity-based compensation expense, purchase accounting adjustments, transaction expenses, acquisition integration expenses, changes in the fair value of derivatives and certain other items unrelated to core operating performance, as well as the estimated income tax impacts of all such adjustments included in this non-GAAP performance measure. We believe adjusted net income assists us and our investors in evaluating our performance period-over-period. In calculating adjusted net income, we also calculate the following non-GAAP financial measures which adjust each GAAP-based financial measure for the relevant portion of each adjustment to reach adjusted net income: Adjusted SG&A – calculated as selling, general, and administrative expenses excluding the impacts of purchase accounting, transaction expenses, acquisition integration expenses, equity-based compensation; and Adjusted income tax – calculated as the tax effect of all adjustments to reach adjusted net income based on the applicable blended statutory tax rate for the period. Adjusted net income should not be considered a substitute for net income or any other measure of financial performance reported in accordance with GAAP. Adjusted EPS Adjusted EPS is a non-GAAP financial measure that the Company calculates as adjusted net income divided by diluted share count for the applicable period. We believe adjusted EPS is useful to us and our investors because it improves the comparability of results of operations from period to period. Adjusted EPS should not be considered a substitute for net income per share or any other measure of financial performance reported in accordance with GAAP. THE DUCKHORN PORTFOLIO, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited, in thousands, except per share data) Three months ended October 31, 2024 Net sales Gross profit SG&A Adjusted EBITDA Income tax Net income Diluted EPS GAAP results $ 122,942 $ 61,500 $ 40,798 $ 11,164 $ 4,285 $ 11,164 $ 0.08 Percentage of net sales 50.0 % 33.2 % 9.1 % Interest expense 5,115 Income tax expense 4,285 Depreciation and amortization expense 119 (1,903 ) 10,631 EBITDA $ 31,195 Purchase accounting adjustments 1,957 1,957 542 1,415 0.01 Transaction expenses (13,125 ) 13,125 3,636 9,489 0.06 Acquisition integration costs (152 ) 152 42 110 — Change in fair value of derivatives 137 38 99 — Equity-based compensation 266 (1,734 ) 2,000 504 1,496 0.01 Non-GAAP results $ 122,942 $ 63,842 $ 23,884 $ 48,566 $ 9,047 $ 23,773 $ 0.16 Percentage of net sales 51.9 % 19.4 % 39.5 % Three months ended October 31, 2023 Net sales Gross profit SG&A Adjusted EBITDA Income tax Net income Diluted EPS GAAP results $ 102,509 $ 53,853 $ 30,483 $ 15,537 $ 5,629 $ 15,537 $ 0.13 Percentage of net sales 52.5 % 29.7 % 15.2 % Interest expense 4,004 Income tax expense 5,629 Depreciation and amortization expense 124 (3,108 ) 7,329 EBITDA $ 32,499 Purchase accounting adjustments 25 25 7 18 — Transaction expenses (3,236 ) 3,236 861 2,375 0.02 Change in fair value of derivatives (1,889 ) (502 ) (1,387 ) (0.01 ) Equity-based compensation 206 (846 ) 1,052 272 780 0.01 Lease income, net (926 ) (926 ) (716 ) (210 ) (56 ) (154 ) — Non-GAAP results $ 101,583 $ 53,282 $ 22,577 $ 34,713 $ 6,211 $ 17,169 $ 0.14 Percentage of net sales 52.0 % 22.0 % 33.9 % Note: Sum of individual amounts may not recalculate due to rounding. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205396304/en/ CONTACT: Investor Contact Ben Avenia-Tapper IR@duckhorn.com 707-339-9232Media Contact Jessica Liddell, ICR DuckhornPR@icrinc.com 203-682-8200 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA OREGON INDUSTRY KEYWORD: RETAIL LUXURY WINE & SPIRITS AGRICULTURE NATURAL RESOURCES SPECIALTY FOOD/BEVERAGE SOURCE: The Duckhorn Portfolio, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205396304/en
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resident ’s statement during the Group of 20 Summit in Rio de Janeiro, Brazil, to bring forward Indonesia’s net-zero emissions (NZE) target from 2060 to 2050, opens an immense opportunity for Indonesia to start refocusing its global competitive strategy toward the sustainability industry. Indonesia needs to refocus its competitive strategy as competition among countries is becoming increasingly intense and overt. If we study carefully, countries that can anticipate future developments and implement strategic decisions in a disciplined manner will emerge as leaders. Indonesia needs to make a strategic decision on what areas to focus on to achieve the Golden Indonesia target by 2045 and emerge as a leading country. One of the new areas could be the sustainability industry. To prepare for the future, Indonesia could consider the example set by China, particularly in its electric vehicle (EV) development. As a latecomer, China understood that if it could not compete with existing leaders in internal combustion engine (ICE) vehicles, such as Japan, the United States and Europe. China pursued its EV development through consistent, disciplined investment and policy support. The investments encompass technology and human resources. The technology covers the advancement of battery technology and the development of efficient energy management systems, which are integral to the functionality of EVs. Furthermore, China has obtained access to essential raw materials, including copper and nickel, through international collaboration, particularly in African and Southeast Asian countries, especially Indonesia. In 2010, when the industry was ready to take off, the Chinese government began implementing subsidies to stimulate the growth of new energy vehicles, contributing to the exponential expansion of the EV market in the country. By developing the industry as well as the domestic market, China successfully established an ecosystem that supported the growth of the EV industry, thereby becoming a global market leader, overwhelming Europe and the US. China’s success in its EV industry is inextricably linked to a meticulous and well-conceived strategy wherein the government assumes the role of orchestrator in the development of the essential technology and resources to secure a dominant position in the global EV market. By studying China's approach to developing its EV industry, Indonesia can identify new industrial opportunities to focus on based on its comparative and competitive advantages. Whether you're looking to broaden your horizons or stay informed on the latest developments, "Viewpoint" is the perfect source for anyone seeking to engage with the issues that matter most. By registering, you agree with 's Please check your email for your newsletter subscription. Indonesia’s entrance into EV based on its comparative advantage of its nickel resources is commendable. Indonesia, the world’s largest producer of nickel, a key component of EV batteries, has been trying to play a role in the global supply chains of EVs by attracting investment into the battery industry and manufacturing of EVs. Investors from China and South Korea have been building EVs and nickel-based battery plants in Indonesia.Steelers QB Russell Wilson is spreading the wealth on offenseSchumer: U.S. agencies should use advanced technology to identify mysterious drones
Fengal brings heavy rain, shuts air trafficMARTIN, Tenn. (AP) — Tarence Guinyard scored 31 points as UT Martin beat Champion Christian 123-56 on Sunday night. Guinyard added eight rebounds and five assists for the Skyhawks (4-7). Josue Grullon scored 23 points while shooting 8 for 16, including 7 for 13 from beyond the arc and added eight rebounds. Matija Zuzic shot 6 for 14, including 5 for 12 from beyond the arc to finish with 17 points. The Tigers were led in scoring by Noah Brooks, who finished with 14 points and two blocks. Champion Christian, a member of the Association of Christian College Athletics, also got 11 points from Adrian Brown. KJ Younge finished with nine points and three steals. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Gilbert Arenas-Melli Monaco (via: youtube.com) Gilbert Arenas , known for his NBA success and lavish lifestyle, is used to giving extravagant gifts. But this Christmas, the tables were turned when his girlfriend, Melli Monaco , surprised him with a gift he’d never forget. What started as a curious call soon became a jaw-dropping moment in Arenas ' driveway, setting the stage for an unforgettable holiday surprise. A Christmas surprise leaving Arenas speechless Gilbert Arenas Talks About His Engagement to @MelliMonaco Gilbert Arenas, the former NBA All-Star who earned over $160 million during his career, is no stranger to showering his loved ones with lavish gifts. But this Christmas, the tables turned when his girlfriend, Melli Monaco , took on the role of the gift-giver in a big way. On a bright Wednesday afternoon, Monaco called Arenas and his kids outside, sparking curiosity for what was to come. In the driveway stood a jaw-dropping surprise, a custom Wolf King GT scooter , with Arenas' name proudly emblazoned on the front. Clearly impressed, Arenas wasted no time expressing his gratitude with a playful remark. Then, with excitement written all over his face, he jumped on the scooter and zoomed down the street, eager to test out his new ride. It was a Christmas gift that gave the former NBA star an unforgettable experience and an epic ride. "You trying to get married," Arenas told Monaco. (via: Sportskeeda) Arenas and Monaco, together for just over a year, are already engaged after he proposed during a summer trip to France. Monaco, a content creator and host of The Blind Pineapple , has also built a strong social media following with 420,000 Instagram followers. This Christmas, Monaco may have just topped all gift-giving with a scooter that left Arenas speechless—proof that the best present in their house was all hers. Also Read: Spurs' emotional gesture leaves ROY favorite Stephon Castle's mom in tears Melli Monaco is key part of Gilbert Arenas' life Melli Monaco and Gilbert Arenas have formed a bond that goes far beyond romance. Over the years, Monaco has become a cornerstone in Arenas' life and a beloved figure to his four children, two boys and two girls from a previous relationship. While she may not be their biological mother, Monaco's nurturing presence is felt deeply as she encourages them to follow their own paths with love and care. This month, Monaco took to social media to celebrate Arenas' youngest child, Hamiley, who is quickly making a name for herself as a high school freshman. Despite having a basketball game on her birthday, Hamiley delivered an impressive performance on the court, making the day even more special and showcasing her growing talent. "Happy birthday @hamileyarenas0 She went crazy 40points 16rebounds" Arenas' home is clearly filled with rising basketball stars, and his oldest son, Alijah, is leading the charge. Alijah, who’s about to finish high school, made a bold decision earlier this year to reclassify from the class of 2026 to 2025. This move placed him among the top talent in his new senior class, currently ranked No. 15 in ESPN's top 100. As he nears the end of high school, fans are eagerly awaiting his next move, with no word yet on where he plans to play next season.
Developers will have to show that their project either helps reduce the amount of non-recyclable waste going to landfill, or replaces an older, less efficient incinerator. The move forms part of the Government’s drive to increase recycling rates, which have held at about 45% of household waste since 2015. Environment minister Mary Creagh said: “For far too long, the nation has seen its recycling rates stagnate and relied on burning household waste, rather than supporting communities to keep resources in use for longer. “That ends today, with clear conditions for new energy from waste plants – they must be efficient and support net zero and our economic growth mission, before they can get the backing needed to be built.” Developers will also have to ensure their incinerators are ready for carbon capture technology, and demonstrate how the heat they produce can be used to help cut heating bills for households. The Government expects that its “crackdown” on new incinerators will mean only a limited number are built, while still reducing the amount of waste sent to landfill and enabling the country to process the waste it produces. The Department for the Environment, Food and Rural Affairs said the country was almost at the point where it had enough waste facilities to handle non-recyclable rubbish, and so had limited need for new incinerators. But the proposals stop short of the plans included in the Conservatives’ 2024 manifesto, which committed to a complete ban on new incinerators due to their “impact on local communities” and declining demand as recycling increased.ORLANDO, Fla. — The silence has been broken, amid Miami Heat hopes that silence now can follow. In the wake of increasing conjecture of Jimmy Butler pushing for a trade and the team considering a deal, Miami Heat President Pat Riley on Thursday issued a terse and pointed statement on the matter. “We usually don’t comment on rumors, but all this speculation has become a distraction to the team and is not fair to the players and coaches,” Riley said. “Therefore, we will make it clear — we are not trading Jimmy Butler.” In addition, a person intimately familiar with the machinations of recent days said that at no point has Butler requested a trade. Earlier, Heat coach Erik Spoelstra also said Thursday that the desire of the team is to move forward with Butler, while also pausing to address reports of his star forward preferring to be elsewhere. “That’s just the deal,” Spoelstra said of Christmas Day turning into conflicting reports of Butler privately expressing a desire to move elsewhere and the Sun Sentinel confirming from both sides of the equation that there had been no trade demand put forward. “You have to compartmentalize in this business. We want Jimmy here. There’s no ifs, ands or buts about it. And it’s just unfortunate that you have to control or deal with a lot of the noise on the outside.” Thursday was the first opportunity for the Heat to address the speculation, with the team idle for Christmas, traveling to Orlando on Wednesday evening. Spoelstra spoke after the morning shootaround, ahead of Thursday night’s game against the Orlando Magic at Kia Center. “In terms of this morning, this was a pretty focused group coming off of the last game that we came here,” Spoelstra said, with the Heat blowing a 22-point lead at the start of the fourth quarter in Saturday night’s 121-114 loss in Orlando. “The guys understand the task at hand and looking forward to getting out there on the wood and trying to redeem what happened the last time we were here.” It is a process that instead came in the wake of the ESPN discussion about Butler’s reported desires, with Butler having been away from the team the past week with what has been listed as a stomach ailment. Asked whether Butler had within the team expressed a desire to move on, Spoelstra said, “That’s all I’m going to talk about. The more any of us talk about it, the more fuel it gets. It’s just really unfortunate that it just continues to build momentum outside of our building.” Riley’s statement followed, amid the hopes of ending the fuel on that fire. As team captain, center Bam Adebayo said what matters with Butler is what happens on the court and within the building. “You go out there and you win games,” Adebayo said. “That’s how you keep the distractions out. You go out there and win games, do it together. Like I said, they’ll handle everything behind closed doors. “Obviously, you have the business side of it. So at the end of the day, we’re all a family, we’re all in a brotherhood. So we’ll worry about the basketball games that we have to play.” So, no, Adebayo said, the conjecture did not sour his Christmas. “It’s a holiday. We’re with our families, so we’re going to worry about our families and worry about everything else later,” Adebayo said. Guard Tyler Herro, who has dealt with his share of trade speculation, said Wednesday’s televised conjecture was just part of the NBA process. “I didn’t really have a reaction, honestly,” he said of the reporting on Christmas morning. “My focus is on my daughter and my son, and I haven’t really picked up my phone or worried about basketball until this morning. So, I don’t know.” Herro said the concern was getting a teammate back to health and back on the court. “Yeah. I mean, Jimmy is sick, I believe,” Herro said. “So he had to take a couple days off. If I was sick, I might need a couple days one day, too. So we’ll see what happens.” Butler, 35, is eligible to reach free agency this summer should he opt out of the final year of his contract, a 2025-26 player option for $52.4 million. He also is eligible for an immediate Heat extension. By NBA rule, players are not allowed to publicly demand trades while under contract. Former Heat forward P.J. Tucker was fined $75,000 by the NBA in February for public statements regarding a desire at that time to be relocated from the Los Angeles Clippers. Similarly, in August 2023, James Harden, then with the Philadelphia 76ers, was fined $100,000 by the league for publicly expressing a trade desire. Butler, at least initially, played along with the conjecture, including changing the color of his braids to bright orange, a color prominently featured by the Phoenix Suns, one of his reported preferred landing spots. “I actually like it,” Butler said following a Dec. 11 Heat practice at Kaseya Center of the conjecture. “It’s good to be talked about. I don’t think there’s such a thing as bad publicity to a point. But if somebody is talking about me getting traded, that’s a lot.” Now there again is talk. “It’s fine with me,” Butler said two weeks ago of speculation that likely will continue until either a move is made or the passing of the NBA’s Feb. 6 trading deadline. “It doesn’t bother me, not one bit, and I do appreciate it.” Asked as a follow up to that answer about where he stands in terms of a potential long-term future with the Heat, he responded, “Who knows?” ©2024 South Florida Sun-Sentinel. Visit sun-sentinel.com . Distributed by Tribune Content Agency, LLC.Jimmy Carter, 39th US president, Nobel winner, dies at 100
MIAMI (AP) — The Miami Marlins and infielder Eric Wagaman have agreed to a one-year contract that pays $770,000 while in the major leagues and $200,000 in the minors. The Marlins announced the deal on Friday. Infielder Vidal Bruján was designated for assignment to make room for Wagaman on the team's 40-man roster. The 27-year-old Wagaman made his big league debut with the Los Angeles Angels in September. He hit .250 with two homers and 10 RBIs in 18 games. He made 17 starts at third base and appeared once in left field. Wagaman also hit .274 with 17 homers and 60 RBIs in 121 games over two minor league stops this year. AP MLB: https://apnews.com/hub/mlbColumbia, Mo. (KMIZ) On Monday, the Columbia City Council will discuss the results of a community survey that shows residents feel the city is worse off than it was five years ago. The five-page survey was mailed to a random sample of houses in August and September, hoping at least 800 residents would fill it out. The city met its goal with 855 total responses. Respondents emphasized the quality of police and fire services, street quality, and code and ordinance enforcement as the three most important things the city should focus on in the next two years. The largest points of contention were the city roads and value received for taxes and fees with over 45 percent of respondents saying they were dissatisfied. Sixty-four percent of respondents said Columbia was either an “excellent” or good place to work, while 61 percent viewed it as an “excellent” or good place to live. However, only 55 percent had a favorable view on whether Columbia was a place to raise a family. Respondents were also satisfied with major city services with, 65 percent of respondents scoring the quality of city parks, recreational programs, and facilities giving the city a rating of 4 or 5 on a 5-point scale. Fifty-eight percent of people were satisfied with the quality of electric services and customer service from city employees while 53 percent had a favorable view of health and human services and solid waste services. Respondents identified the lack of crime prevention, the quality of the Columbia Police Department, and the visibility of CPD as its three largest concerns. Overall just 40 percent of people said they felt safe in Columbia. Data from the Missouri State Highway Patrol shows that violent crime is up compared to last year. Through 11 months CPD had reported 515 violent crimes, which has already surpassed last year's total of 513. Sixty-two percent of respondents also said they were dissatisfied with the city’s efforts to prevent crime. Within the last year, Mayor Barbra Buffaloe created an Office of Violence Prevention . The city council also voted to implement over 100 Flock security cameras across the city. Eighty-one percent (81%) of respondents, who had an opinion, were “very supportive” or “somewhat supportive” of the City utilizing gunshot detection technology for public safety; 71% support utilizing public space cameras; 61% support utilizing license plate reader technology, and 51% support utilizing drone surveillance. The Fire Department was one of just three categories that had an overall satisfaction rating of over 70 percent (83) along with daytime safety and perception of city parks. The last survey done in 2019 showed that residents had a much more favorable view of the city. Columbia scored lower in seven of eight categories in “major city services. The most significant drops came in the quality of the city’s solid waste services which saw its satisfaction rating plummet by just over 28 percent. The city also scored lower in all seven “public safety” categories. Only 17 percent of respondents said that they were satisfied with Columbia’s crime prevention efforts.VIDEO: Who has turned Rivers State to his personal estate? Wike calls out Odili
Tirumala Tirupati Devasthanams (TTD) has implemented a strict ban on making political statements or criticisms regarding Tirumala, following several incidents where political leaders used their visit to the holy site as a platform to criticise rival parties and leaders. In a recent board meeting, TTD unanimously resolved to take action against anyone violating this rule. The ban was implemented from Saturday, with the TTD making it clear that the spiritual climate and sanctity of the hill temple must be maintained by all. Meanwhile, TTD announced the implementation of a special darshan for locals from Tirupati, which will take place on every first Tuesday of the month, starting December 3. Local devotees from Tirupati rural, Tirupati urban, Chandragiri mandal, and Renigunta mandal can obtain tickets at special counters by presenting their Aadhaar cards, as announced by TTD chairman B.R. Naidu.