Krispy Kreme Doughnuts Earnings: Here’s Why the Stock is Falling Now
Krispy Kreme Doughnuts Inc. (NYSE:KKD) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 10.89%.
Krispy Kreme Doughnuts Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 16.67% to $0.14 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 10.36% to $112.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Krispy Kreme Doughnuts Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.16. It beat the average revenue estimate of $111.48 million.
Quoting Management: Chairman, President and Chief Executive Officer James H. Morgan commented: “This was an outstanding quarter for us, and results exceeded our expectations, despite unusual items that in the aggregate negatively affected our earnings by about $0.01 per adjusted share. Those items, combined with a $0.02 adverse swing in gains and losses on derivative positions, penalized the year-over-year comparison by $0.03 per adjusted share.
Key Stats (on next page)…