The Duckhorn Portfolio, Inc. (NYSE:NAPA) Q3 2023 Earnings Conference Call June 8, 2023 4:30 PM ET

Company Participants

Sean Sullivan - Chief Strategy & Legal Officer

Alex Ryan - President & CEO

Lori Beaudoin - CFO

Conference Call Participants

Lauren Lieberman - Barclays

Peter Galbo - Bank of America

Andrea Teixeira - JPMorgan

Kevin Grundy - Jefferies

Gerald Pascarelli - Wedbush Securities

Robert Ottenstein - Evercore

Operator

Good morning, and thank you for attending today's Duckhorn Portfolio Q3 2023 Earnings Conference Call. My name is Jason. I'll be the moderator for today's call. All lines will be muted during the presentation portion of the call, an opportunity for questions-and-answers at the end. [Operator Instructions]

I would now like to pass the conference over to your host, Sean Sullivan.

Sean Sullivan

Good afternoon, and welcome to the Duckhorn Portfolio's third quarter 2023 earnings conference call. Joining me on today's call are Alex Ryan, our President, CEO and Chairman; and Lori Beaudoin, our Chief Financial Officer. In a moment, we will give brief remarks followed by Q&A. By now, everyone should have access to the earnings release for the fiscal quarter ended April 30, 2023, that went out at approximately 4:05 P.M. Eastern Time. The press release is accessible on the company's website at ir.duckhorn.com. And shortly after the conclusion of today's call, a webcast will be archived for the next 30 days.

Before we begin, I would like to remind you that today's discussion contains forward-looking statements based on the environment as we currently see it, and as such, includes risks and uncertainties. If you refer to Duckhorn's earnings release as well as the company's most recent SEC filings, you will see a discussion of factors that could cause the company's actual results to differ materially from these forward-looking statements. Please remember the company undertakes no obligation to update or revise these forward-looking statements in the future.

We will make a number of references to non-GAAP financial measures. We believe that these measures provide investors with useful perspective on the underlying growth trends of the business and have included in our earnings release a full reconciliation of non-GAAP financial measures to the most comparable GAAP measures. In addition, please note that all total U.S. food scanner data cited on today's call will refer to dollar or unit consumption for the 12-week period ended April 30, 2023 and growth versus the same period in the prior year, unless otherwise noted.