News
James B. Bell
- February 13, 2024
Krispy Kreme Inc.'s stock (DNUT) saw a slight decline in premarket trading on Tuesday following the company's fourth-quarter earnings report. The doughnut maker fell short of profit estimates and provided guidance that was below consensus.
Q4 Financial Results
In the fourth quarter, Krispy Kreme reported a net income of $1.9 million, or 2 cents per share. This marked an improvement from the year-earlier period when the company experienced a loss of $1.0 million, or 2 cents per share. However, their adjusted earnings per share came in at 9 cents, falling short of the FactSet consensus of 13 cents.
On the brighter side, revenue for the company increased to $450.9 million, surpassing the FactSet consensus of $439.0 million. Krispy Kreme credited this growth to strong consumer demand across all channels.
Future Outlook
Krispy Kreme's CEO, Josh Charlesworth, expressed optimism regarding future revenue growth. The company is expecting a 5% to 7% increase in revenue for 2024. Additionally, they anticipate an adjusted EPS in the range of 27 cents to 31 cents. However, the FactSet consensus projects a revenue growth of 6% with an EPS of 38 cents.
Stock Performance
Over the past twelve months, Krispy Kreme's stock has gained 13%. In comparison, the S&P 500 has seen a 22.8% increase.
Stay tuned for further updates on Krispy Kreme Inc.'s financial performance.
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