The Duckhorn Portfolio (NYSE:NAPA) posted its Q3 earnings results yesterday, with revenue of $91.2 million coming in above the Street estimate of $89.79 million. EPS was $0.16, better than the Street estimate of $0.12.

While slowing on-premise sales may be a short-term headwind, management seems to be very confident in its position, heading into a tough economic environment, as a luxury player with scale.

Management sees Q4/23 EPS to be in the range of $0.64-$0.66, compared to the Street estimate of $0.64, and revenue in the range of $400-$404 million, compared to the Street estimate of $402.56 million.