Keurig Green Mountain Profit Tops View; Shares Surge 20%

(RTTNews) - Shares of Keurig Green Mountain, Inc. (GMCR) surged 20 percent in extended session on Wednesday after the company reported a fourth-quarter profit and revenues that trumped Wall Street estimates.

Keurig Green Mountain's fourth-quarter profit dropped to $94.6 million or $0.61 per share from $141.1 million or $0.86 per share last year.

Adjusted earnings for the quarter were $0.85 per share, down from $0.94 per share last year.

Sales for the quarter dropped 13 percent to $1.04 billion from $1.20 billion last year.

Analysts polled by Thomson Reuters expected the company to earn $0.71 per share on revenues of $1.03 billion for the quarter. Analysts' estimates typically exclude special items.

The company also increased its annualized dividend by 13 percent to $1.30 per share from $1.15 per share.

For the fiscal year 2016, the company expects adjusted earnings of $3.25 to $3.45 per share. Analysts currently estimates earnings of $3.47 per share.

GMCR closed Wednesday's trading at $40.50, up $0.37 or 0.92%, on the Nasdaq. The stock further gained $8.01 or 19.78% in the after-hours trade.