Krispy Kreme

2022 - 5 - 12

Krispy Kreme, Inc. (DNUT) Q1 2022 Earnings Call Transcript (Motley Fool)

DNUT earnings call for the period ending March 31, 2022. Logo of jester cap with thought bubble. Image source: The Motley Fool. Krispy Kreme, Inc.

But you continue to look at the base of hubs today, and you'll continue to fine tune and add more hubs as we think that the route becomes more interesting. We continue to be competitive in every market that we're going to be, we will do that against making sure that that's not the barrier and the benefits. In terms of the number of growth, if you think about quarter-by-quarter, some of that, you get front loaded a little bit from the last, think about Q4. There is some pruning of doors that tends to happen at the back end of the year and then it gets a little bit frontloaded in the first quarter. Using loyalty, we do communicate to our loyalty customers and they give an opportunity to get a free LTO when they come in with a code on what have you into the store. So that's how you can see the expansion of that, and that's how innovation can get to customers. We continue to expect an income tax rate between 23% and 25% and adjusted net income diluted of $65 million to $69 million, an increase of 18% to 24% with adjusted diluted EPS of $0.38 to $0.41. Excluding share count impact from the IPO, adjusted EPS growth would be similar to adjusted net income diluted growth. Adjusted net income for the quarter was $16.1 million and adjusted diluted EPS in the first quarter was $0.08, a drop of $0.03, largely due to the increased share count from the IPO. Net leverage was 3.6 times on a trailing 12-month basis at the end of the quarter, a significant decrease from a year ago. Moving on to our International segment, net revenue grew 31% in the first quarter to $87 billion, and organic revenue increased 36%. Revenue growth was strong across all the International segment countries. And we also [Inaudible] to receipt of a business interruption insurance payment in the UK one year ago, a $3.5 million. Our ability to execute our omnichannel model and ultimately expand to more than 50,000 points of access globally in a very capital efficient manner, leveraging our innovation and brand connection with expanding points of access in our existing markets and opening 15 to 25 new hubs across the globe -- across the global system each year gives a strong confidence that we can achieve double-digit organic revenue growth in '22 and beyond. Our DFD business continue to gain momentum as we added over 200 points of access during the quarter, bringing us to nearly 6,000 locations in the U.S. and Canada while on our way to exceeding 500 doors in 2022. We are proud to be a global company operating in more than 30 countries, and campaigns like these highlight the good we can do and how we can really drive genuine consumer connections with our brand in an impactful way.

Stocks making the biggest moves premarket: Wendy's, Krispy Kreme ... (CNBC)

Wendy's (WEN) –Wendy's reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts.

Coinbase (COIN) – Coinbase slumped 14.4% in premarket trading after it reported an unexpected quarterly loss. It did report a wider than expected loss, but it said it was poised to benefit from an inflationary trend in the prices of new luxury goods. Krispy Kreme (DNUT) – Krispy Kreme gained 1.6% in the premarket after beating top and bottom line estimates for its latest quarter. However, the over-the-counter drug maker did report better than expected revenue and raised its full-year outlook after completing the acquisition of consumer health care company HRA Pharma earlier this month. Wendy's (WEN) –Wendy's reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. Roblox fell 1.1% in premarket action, paring an earlier 10% off-hours loss.

Krispy Kreme: Q1 Earnings Snapshot (The Advocate)

CHARLOTTE, N.C. (AP) _ Krispy Kreme Inc. (DNUT) on Wednesday reported first-quarter net income of $4 million, after reporting a loss in the same period a ...

Krispy Kreme expects full-year earnings in the range of 38 cents to 41 cents per share, with revenue in the range of $1.53 billion to $1.56 billion. The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

Krispy Kreme Shares Gain On Solid Q1 Performance - Benzinga (Benzinga)

The adjusted EBITDA increased 5.4% Y/Y to $48.9 million, and the EBITDA margin contracted 130 basis points to 13.1%. Adjusted EPS of $0.08 beat the consensus of ...

- Krispy Kreme sees organic revenue growth of 10% - 12% and Adjusted EBITDA of $210 million - $218 million. - The company expects FY22 adjusted EPS of $0.38 - $0.41 versus the Street view of $0.41. - Adjusted EPS of $0.08 beat the consensus of $0.07. - The adjusted EBITDA increased 5.4% Y/Y to $48.9 million, and the EBITDA margin contracted 130 basis points to 13.1%. - The operating margin expanded 30 basis points Y/Y to 4.6%, and operating income for the quarter was $17.3 million. - Krispy Kreme Inc DNUTreported first-quarter FY21 sales growth of 15.8%year-on-year to $372.5 million, beating the consensus of $367.9 million.

Krispy Kreme Reports First Quarter Results Showcasing a Robust ... (Business Wire)

Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme” or the “Company”) today reported strong financial results for the first quarter ended April 3, 2022.

These points of access were previously included in the Market Development segment. - Tax impact of adjustments calculated applying the applicable statutory rates. This press release includes certain non-GAAP financial measures including organic revenue growth, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Fresh Revenue from Hubs with Spokes and Sales per Hub, which differ from results using U.S. Generally Accepted Accounting Principles (“GAAP”). These non-GAAP financial measures are not universally consistent calculations, limiting their usefulness as comparative measures. - Fresh Revenues from Hubs with Spokes: Fresh Revenues include product sales generated from our Doughnut Shop business (including ecommerce and delivery), as well as DFD sales, but excluding sales from our legacy wholesale business and our Branded Sweet Treat Line. It also excludes all Insomnia Cookies revenues as the measure is focused on the Krispy Kreme business. - Hubs: Reflects locations where fresh doughnuts are produced and processed for sale at any point of access. Using a trailing four quarters Adjusted EBITDA of $190.5 million, current net leverage was 3.6x, substantially below pre-IPO levels. Growth was strong across all of our International segment business units including the UK and Ireland, Mexico, Australia and New Zealand. Points of access increased by 312 to 3,203. Mike continued, “We continue to be well-positioned to deliver another year of double-digit revenue growth in 2022 despite macro-challenges. Commenting on the Company’s performance, President and CEO Mike Tattersfield stated, “Our results in the first quarter continue to demonstrate the benefits of our omni-channel model and global expansion strategy, which allow us to meet consumer demand with premium, fresh doughnuts in a capital efficient manner. Growth was driven by the performance and expansion of Krispy Kreme’s Omni-channel model, and strong performances across all three business segments. Adjusted diluted Earnings Per Share was $0.08 for the quarter, compared to $0.11 last year primarily due to share dilution from an increased share count following the IPO. Adjusted EBITDA grew 5.4% in the quarter to $48.9 million led by a 90 basis point improvement in U.S. and Canada margins. CHARLOTTE, N.C.--( BUSINESS WIRE)--Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme” or the “Company”) today reported strong financial results for the first quarter ended April 3, 2022 with net revenue growing 15.8% year-over-year to $372.5 million while organic revenue grew 15.0% to $370.1 million with high growth across all three segments.

Krispy Kreme Jumps From Lows After Earnings, Revenue Beat (Yahoo Finance)

By Sam Boughedda. Investing.com -- Krispy Kreme Inc (NASDAQ:DNUT) reported better-than-expected first-quarter results on Wednesday, with "Sales per Hub" ...

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Krispy Kreme stock bounces off record low after profit, revenue ... (MarketWatch)

Shares of Krispy Kreme Inc. undefined rose 2.4% in premarket trading Wednesday, to bounce off the previous session's record closing low, after the donut...

The company swung to net income of $4.0 million, or 2 cents a share, from a loss of $3.1 million, or 3 cents a share, in the year-ago period, as the number of diluted share outstanding increased 35.6% to $169.5 million. Revenue grew 15.8% to $372.5 million, above the FactSet consensus of $368.8 million, as U.S. revenue increased 13.8% to $253.1 million and international revenue jumped 31.1% to $87.2 million. "Our global Valentine's Day and St Patrick's Day campaigns and limited time offerings such as our Twix and Rolo Doughnuts resonated strongly with consumers, highlighting the opportunities for premiumization and the gifting and sharing power of the brand," said Chief Executive Mike Tattersfield. For 2022, the company affirmed its guidance range for adjusted EPS of 38 cents to 41 cent and for revenue of $1.53 billion to $1.56 billion. Excluding nonrecurring items, adjusted earnings per share of 8 cents beat the FactSet consensus of 7 cents. Shares of Krispy Kreme Inc. DNUT, +3.77%rose 2.4% in premarket trading Wednesday, to bounce off the previous session's record closing low, after the donut seller reported first-quarter profit and revenue that beat expectations and affirmed its full-year outlook. Shares of Krispy Kreme Inc.

Krispy Kreme powers through inflation pressure, other challenges ... (Charlotte Business Journal)

Krispy Kreme shows strong growth, particularly in its international segment, for the first quarter of 2022 and reaffirms its full-year guidance.

Krispy Kreme expects to report net revenue in the range of $1.53 billion to $1.56 billion, up 11% to 13% from 2021. For the quarter, Krispy Kreme (NASDAQ: DNUT) reported net income of $6.5 million, or 2 cents per diluted share, on revenue totaling $372.5 million. “We’re still able to attract plenty of labor to come into our business,” he told analysts. “We have seen significant inflation on our key ingredients and input costs,” Charlesworth said. And revenue was well above the $367.9 million that had been projected. Organic revenue growth alone was up 35.5%.

Krispy Kreme (NASDAQ:DNUT) PT Lowered to $15.00 (Defenseworld.net)

Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to ...

Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Krispy Kreme during the 3rd quarter valued at $30,629,000. Morgan Stanley decreased their target price on shares of Krispy Kreme from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, April 14th. Finally, BlackRock Inc. raised its position in shares of Krispy Kreme by 30.6% in the 4th quarter. FIL Ltd bought a new stake in Krispy Kreme in the third quarter valued at $37,798,000. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Krispy Kreme had a negative net margin of 1.77% and a positive return on equity of 2.80%. The company had revenue of $370.60 million for the quarter, compared to the consensus estimate of $363.04 million. In related news, CEO Michael J. Tattersfield purchased 9,500 shares of Krispy Kreme stock in a transaction that occurred on Thursday, March 10th. Bamco Inc. NY purchased a new position in shares of Krispy Kreme during the third quarter worth approximately $42,673,000. GW&K Investment Management LLC boosted its holdings in shares of Krispy Kreme by 317.4% during the 1st quarter. Several other research firms have also weighed in on DNUT. Zacks Investment Research lowered shares of Krispy Kreme from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. Research analysts anticipate that Krispy Kreme will post 0.28 earnings per share for the current fiscal year. Citigroup’s price objective would suggest a potential upside of 18.39% from the company’s previous close.

Krispy Kreme finds that Twix can lift sales (Restaurant Business Online)

The doughnut chain said that its attention-getting doughnuts, such as one stuffed with a Twix bar, and more locations can generate sales.

By increasing points of access, and getting product to them every day, Krispy Kreme believes it can increase the efficiency of its doughnut-making locations. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Insomnia operates 217 locations and executives want to double its location count over the next five years. Those access points include shelves at retailers, which it calls “DFD Doors,” that cost relatively little to open, between $2,000 and $10,000 per location. What’s more, Tattersfield said, customers are willing to pay higher prices for some of these doughnuts, such as the Twix doughnut. Much of that was driven by the chain’s limited time offers.

DFD door expansion lifts Krispy Kreme profits (Baking Business)

In a first-quarter earnings call with analysts, Michael J. Tattersfield, president and chief executive officer of Krispy Kreme, credited much of the company's ...

Branded sweet treats such as shelf-stable donut bites and mini crullers are on track to be profitable by the middle of 2022, according to the company.“Overall, we continue to be very optimistic about our growth potential, which is reflected by our reaffirmed 2022 outlook,” Mr. Charlesworth said. “We opened seven new cookie shops in the first quarter, reaching 217 in total across the US.” “E-commerce is a core pillar of our omnichannel strategy,” Mr. Tattersfield said. Krispy Kreme subsidiary Insomnia Cookies has provided the company a firsthand example of the durability of e-commerce. “Supporting this expansion will be the addition of 10 to 15 new equity hubs added per year as well as 5 to 10 franchise hubs,” Mr. Tattersfield said. CHARLOTTE, NC. — The first quarter ended April 3 proved profitable for Krispy Kreme, Inc., maintaining the company’s gains established in the fourth quarter last year.

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