Krispy Kreme Shares Gain On Solid Q1 Performance

  • Krispy Kreme Inc DNUT reported first-quarter FY21 sales growth of 15.8% year-on-year to $372.5 million, beating the consensus of $367.9 million. Organic revenue grew 15%.
  • The company's Q1 growth was driven by the performance and expansion of Krispy Kreme's Omni-channel model and strong performances across all three business segments.
  • Revenue in the U.S. and Canada segment climbed 13.8% Y/Y to $253.1 million, the International segment grew 31.1% to $87.2 million, and the Market Development fell 1.9% to $32.2 million.
  • The operating margin expanded 30 basis points Y/Y to 4.6%, and operating income for the quarter was $17.3 million.
  • The adjusted EBITDA increased 5.4% Y/Y to $48.9 million, and the EBITDA margin contracted 130 basis points to 13.1%.
  • Adjusted EPS of $0.08 beat the consensus of $0.07.
  • The company held $31.6 million in cash and equivalents as of April 3, 2022.
  • Outlook: Krispy Kreme re-affirmed FY22 sales outlook of $1.53 billion – $1.56 billion, against the consensus of $1.55 billion.
  • The company expects FY22 adjusted EPS of $0.38 - $0.41 versus the Street view of $0.41.
  • Krispy Kreme sees organic revenue growth of 10% - 12% and Adjusted EBITDA of $210 million - $218 million.
  • Krispy Kreme also reiterated its long-term outlook.
  • Price Action: DNUT shares are trading higher by 5.41% at $12.87 on the last check Wednesday.
  • Photo via Company
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!