Shares of Krispy Kreme, Inc. (DNUT) are rising more than 9% Tuesday morning after reporting better-than-expected fourth-quarter revenue. However, its earnings fell short of the Street view.
The company reiterated its long-term organic revenue growth outlook of 9% to 11%.
Revenue for the quarter increased 13.8% year-over-year to $370.6million, driven by organic revenue growth of 13.9%. Analysts surveyed by Thomson Reuters expected the company to report revenue of $363.66 million.
Net income was $4.3 million or $0.01 per share in the quarter, compared with net loss of $24.8 million or $0.21 per share a year ago
Adjusted earnings were $0.08 per share for the quarter, that missed the consensus estimate of $0.1 per share.
Looking forward, Krispy Kreme expects net revenue to be in the range of $1.53 billion to $1.56 billion in 2022 and adjusted EPS is expected between $0.38 and $0.41. Analysts expect the company to report earnings of $0.46 per share on revenue of$1.55 billion for the year.
DNUT, currently at $15.01, has been trading in the range of $12.63-$21.69 in the past 52 weeks.
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