Keurig Green Mountain Q4 Results Top Estimates; CFO To Leave

(RTTNews) - Keurig Green Mountain, Inc. (GMCR) reported net income for the fourth quarter of $141.1 million or $0.86 per share, compared to $127.0 million or $0.83 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $148.8 million or $0.90 per share, compared to $136.0 million or $0.89 per share in the prior year quarter.

Net sales for the fourth quarter rose 14% to $1.20 billion from $1.05 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.77 per share on revenue of $1.16 billion for the fourth quarter. Analysst' estimates typically exclude special items.

The company also announced a 15% increase in its indicated annualized dividend to $1.15 per share from $1.00. The increase will take effect with the February 12, 2015 quarterly dividend payment of $0.2875 declared by the Board payable to shareholders of record as of the close of business on January 13, 2015.

Looking forward to the first quarter, the company forecasts net sales growth in the high-single digits and adjusted earnings of $0.83 to $0.88 per share. Analysst currently expect the company to earn $0.96 per share on revenue growth of 16.70% for the first quarter.

For the fiscal year 2015, the company forecasts net sales growth in the high-single to low-double digits and adjusted earnings per share growth of mid-single digits to high-single digits.

Separately, Keurig Green Mountain said that Frances Rathke, Chief Financial Officer and Treasurer, will leave the company in 2015 after 11 years of service.

As part of the succession plan, the company has engaged an executive search firm.

To facilitate a successful transition, Ms. Rathke will continue to serve as Chief Financial Officer and Treasurer until a replacement is appointed, at which time, Ms. Rathke will serve in the new role of Strategic Advisor to the CEO reporting to Brian Kelley. She will stay in that latter role no later than September 26, 2015.