Shares of Krispy Kreme Inc.
DNUT,
were indicated down nearly 2% toward a 7-week low in premarket trading Thursday, after the donut seller matched second-quarter profit expectations but came up shy on revenue. The company reported net income of $223,000, or about breakeven on a per-share basis, compared with a net loss of $3.8 million, or 2 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share slipped to 7 cents from 8 cents but matched the FactSet EPS consensus of 7 cents. Total revenue rose 9.0% to $408.9 million, but was below the FactSet consensus of $411.5 million. U.S. revenue grew 9.3% and international revenue increased 4.8%, and ecommerce revenue growth was 18.0%. Growth in the U.S. was driven by higher prices, marketing activations and the expansion of the company’s Delivered Fresh Daily (DFD) strategy. For 2023, the company affirmed its guidance ranges for adjusted EPS of 31 cents to 34 cents and for revenue of $1.65 billion to $1.68 billion. The stock has slipped 3.9% over the past three months through Wednesday while the S&P 500
SPX,
has gained 8%.
