Shares of Krispy Kreme (DNUT) plunged intraday Tuesday after the doughnut chain's fourth-quarter earnings unexpectedly declined following late last year's cyber attack, while the company offered a disappointing full-year outlook.

Adjusted earnings per share fell to $0.01 for the three months ended Dec. 29 from $0.09 the year earlier, compared with analysts' estimate of $0.10 on FactSet. Revenue fell to $404 million from $450.9 million and was below the $414 million consensus view.

Shares of Krispy Kreme tumbled 24% in Tuesday trade.

In its core US market, revenue plunged 17% to $50.9 million due to factors including the July 2024 sale of Insomnia Cookies and the cybersecurity incident that Chief Financial Officer Jeremiah Ashukian said on a conference call affected online ordering, materials replenishment and labor planning. Organic sales saw a 460-basis-point impact in the fourth quarter from the cyber attack announced in December, the company said.

The incident dealt an estimated $10 million hit to adjusted earnings before interest, taxes, depreciation and amortization.

Krispy Kreme said its Delivered Fresh Daily program partially offset the quarterly revenue decline in the US.

"Looking into 2025, we anticipate revenue growth as we expand our DFD network, partly dampened by consumer pressures," Ashukian told analysts, according to a FactSet transcript. "From a profitability perspective, we expect margin compression in the front half due to the lingering impact of the cybersecurity incident on labors and material management in (the first quarter) specifically."

Management is guiding full-year revenue between $1.55 billion and $1.65 billion, implying a decline from $1.67 billion it reported for 2024. Analysts in a FactSet survey were expecting a year-over-year revenue increase to $1.76 billion in 2025. The company expects organic revenue to be up 5% to 7%, compared with the 5% increase it posted for 2024.

Krispy Kreme expects adjusted EPS to range between $0.04 and $0.08, down from $0.11 it reported for the fiscal year ended in December. Analysts were modeling for a steep improvement to $0.30.

While online ordering and retail shops are now fully operational, the cyber attack "materially affected" the company's operations and is "reasonably likely to materially impact the company's results of operations and financial condition," it said.