Krispy Kreme Q4 Profit Misses View

(RTTNews) - Donut chain Krispy Kreme, Inc. (DNUT) Tuesday reported net earnings for the fourth quarter compared to loss for the same period last year. However, on adjusted basis, earnings missed the Street view.

Following this news, the shares are trading down around 4 percent in pre-market activity.

Further, the company provided its outlook for fiscal 2024.

The company reported quarterly earnings of $2.6 million or $0.02 per share compared with loss of $2.7 million or $0.02 per share in the last year.

Excluding items, earnings were $15.11 million or $0.09 per share compared with $18.62 million or $0.11 per share in the previous year. On average, seven analysts polled by Thomson Reuters expect earnings of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.

Net Revenues surged 11.4 percent to $450.9 million from $404.6 million in the prior year, driven by strong consumer demand in all sales channels and on increased access to donuts. Organically revenue increased 13.2 percent.

Looking forward to the full year, the company expects adjusted earnings per share between $0.27 and $0.31 and net revenue growth of +5 percent and +7 percent.

The Street view for earnings is $0.38 per share and revenue is $1.79 billion.

In pre-market activity, Krispy Kreme shares are trading at 13.28 down 3.99% on the Nasdaq.