Why Krispy Kreme (DNUT) Shares Are Gaining Today - Krispy Kreme (NASDAQ:DNUT)

Krispy Kreme Inc DNUT reported first-quarter FY23 sales growth of 12.5% year-on-year to $419 million, beating the consensus of $401.61 million.
Organic revenue growth of 14.4% led by strong performances in the U.S. and Market Development segments.
Revenue in the U.S. segment climbed 13.5% Y/Y to $281.3 million, the International segment grew 3.5% to $90.3 million, and Market Development increased 26.5% to $47.3 million.
E-commerce constituted 19.6% of retail sales, a 220-basis points improvement from last year.
Operating income for the quarter plunged 13.5% to $14.9 million, with an operating margin of 3.6%.
Adjusted EBITDA increased 12.3% Y/Y to $54.9 million, and the EBITDA margin remained flat at 13.1%.
Adjusted EPS of $0.09 topped the consensus of $0.07.
The company held $29.7 million in cash and equivalents as of April 2, 2023.
Outlook: Krispy Kreme reaffirmed its FY23 sales outlook of $1.65 billion – $1.68 billion, against the consensus of $1.68 billion.
The company reiterated its FY23 adjusted EPS outlook of $0.31 - $0.34 versus the Street view of $0.33.
Krispy Kreme sees organic revenue growth of 9% - 11% and Adjusted EBITDA of $205 million - $215 million.
Price Action: DNUT shares are trading higher by 4.36% at $15.64 in premarket on the last check Thursday.

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Why Krispy Kreme Shares Are Gaining Today