By Mackenzie Tatananni
Krispy Kreme stock plummeted Tuesday, heading for an all-time low, after the doughnut chain reported a dramatic fourth-quarter earnings miss and issued weak full-year guidance.
Shares of the doughnut chain plunged 25% to $6.81, on track for the largest same-day percentage decrease on record, according to Dow Jones Market Data.
The sharp decline came after Krispy Kreme reported underwhelming fourth-quarter results. Revenue declined more than 10% from the prior year to $404 million, missing analysts' calls for $414 million, according to FactSet. Adjusted earnings of one cent a share fell below Wall Street's forecast for 10 cents a share.
The company's 2025 guidance also failed to impress. Krispy Kreme said it expects revenue in the range of $1.55 billion to $1.65 billion; analysts surveyed by FactSet were expecting $1.77 billion. Adjusted earnings between four and eight cents a share were also below analysts' calls for 30 cents at the midpoint.
The company said the sale of its majority ownership stake in Insomnia Cookies had a $101 million impact on full-year revenue.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 25, 2025 09:47 ET (14:47 GMT)
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