MW Krispy Kreme stock heads for record low as earnings set for further disappointment
Krispy Kreme Inc. shares $(DNUT)$ fell more than 10% toward a record low in premarket trading Tuesday after the doughnut company's fourth-quarter revenue took a hit from the sale of its majority stake in Insomnia Cookies and last year's hacking incident.
Revenue fell 10.4% to $404 million from $450.9 million in the prior year's quarter, missing the FactSet consensus estimate of $414 million. Krispy Kreme said the sale of its Insomnia Cookies stake had a $101 million impact on revenue, and the 2024 cybersecurity incident had an estimated $11 million impact.
The company's adjusted fourth-quarter profit of 1 cent a share missed the FactSet consensus estimate of 10 cents a share.
Krispy Kreme also gave weaker-than-expected full-year revenue and earnings guidance. For fiscal 2025, Krispy Kreme expects revenue between $1.55 billion and $1.65 billion, and adjusted earnings between 4 cents and 8 cents a share. Analysts surveyed by FactSet are looking for, on average, revenue of $1.76 billion and adjusted earnings of 30 cents a share.
-James Rogers
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February 25, 2025 07:49 ET (12:49 GMT)
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