Krispy Kreme Q1 Loss Widens, Adj. EPS Beats View; Backs FY24 Outlook

(RTTNews) - Donut chain Krispy Kreme, Inc. (DNUT) reported Thursday that its first-quarter net loss attributable to the company was $8.5 million, wider than last year's loss of $0.3 million.

Loss per share was $0.05, compared to $0.00 a year ago.

Adjusted earnings per share were $0.07, compared to prior year's $0.09.

Net revenue grew 5.7 percent to $442.7 million from $419.0 million last year. Organic revenue grew 6.7 percent to $440.9 million.

Analysts on average expected the company to report earnings of $0.06 per share on revenues of $434.1 million, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Looking forward to fiscal 2024, the company continues to expect adjusted earnings per share between $0.27 and $0.31, net revenue growth of 5 percent and 7 percent and organic revenue growth of 6 percent to 8 percent.

The Street view for earnings is $0.28 per share for the year.

In pre-market activity on the Nasdaq, Krispy Kreme shares were gaining around 2.3 percent to trade at $13.

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