Doughnut Delight: Krispy Kreme Sticks To FY24 Outlook Amid Solid Q1, Global Demand
Portfolio Pulse from Shivani Kumaresan
Krispy Kreme Inc (NASDAQ:DNUT) reported better-than-expected Q1 FY24 earnings with a 5.7% year-on-year sales growth to $442.698 million, surpassing analyst estimates. Organic revenue grew by 6.7%, driven by a 19.4% increase in Points of Access and successful global brand activations. Digital sales rose to 23% of retail sales. The U.S. segment saw a 5.2% growth, International grew by 11.4%, while Market Development fell by 14.1%. Operating income dropped by 20.3%, but adjusted EBITDA rose by 5.9%. The company reaffirmed its FY24 outlook, expecting net revenue growth of 5%-7% and adjusted EPS of $0.27-$0.31. DNUT shares increased by 4.05% in premarket trading.

May 09, 2024 | 12:59 pm
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POSITIVE IMPACT
Krispy Kreme Inc reported strong Q1 FY24 earnings, surpassing analyst estimates with significant sales growth and reaffirmed its FY24 revenue and EPS outlook, leading to a 4.05% increase in premarket trading.
The positive earnings report and the reaffirmation of the FY24 outlook indicate strong operational performance and growth prospects for Krispy Kreme. The better-than-expected results and optimistic future guidance are likely to positively influence investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100