Krispy Kreme Reaffirms FY22 Outlook Post Mixed Q3 Results

Krispy Kreme Inc DNUT reported third-quarter FY22 sales growth of 10.1% year-on-year to $377.52 million, beating the consensus of $362.57 million.
Organic revenue growth of 12% was driven by the solid performance and expansion of Krispy Kreme's omni-channel model.
Revenue in the U.S. and Canada segment climbed 11.9% Y/Y to $252.6 million, the International segment grew 5.4% to $91.9 million, and Market Development increased 10.9% to $33 million.
E-commerce constituted 18.5% of retail sales.
The operating loss for the quarter was $(1) million versus an operating income of $1.8 million last year.
The adjusted EBITDA decreased 7% Y/Y to $38.5 million, and the EBITDA margin contracted 190 basis points to 10.2%.
Adjusted EPS of $0.03 missed the consensus of $0.04.
The company held $28.1 million in cash and equivalents as of October 2, 2022.
Outlook, reiterated: Krispy Kreme sees FY22 sales of $1.49 billion – $1.52 billion, against the consensus of $1.51 billion.
The company expects FY22 adjusted EPS of $0.29 - $0.32 versus the Street view of $0.30.
Krispy Kreme sees organic revenue growth of 10% - 12% and Adjusted EBITDA of $189 million - $195 million.
Price Action: DNUT shares are trading lower by 0.78% at $14.06 in premarket on the last check Tuesday.
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