- Krispy Kreme Inc (NASDAQ:DNUT) reported first-quarter FY21 sales growth of 15.8% year-on-year to $372.5 million, beating the consensus of $367.9 million. Organic revenue grew 15%.
- The company's Q1 growth was driven by the performance and expansion of Krispy Kreme's Omni-channel model and strong performances across all three business segments.
- Revenue in the U.S. and Canada segment climbed 13.8% Y/Y to $253.1 million, the International segment grew 31.1% to $87.2 million, and the Market Development fell 1.9% to $32.2 million.
- The operating margin expanded 30 basis points Y/Y to 4.6%, and operating income for the quarter was $17.3 million.
- 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 $0.07.
- The company held $31.6 million in cash and equivalents as of April 3, 2022.
- Outlook: Krispy Kreme re-affirmed FY22 sales outlook of $1.53 billion – $1.56 billion, against the consensus of $1.55 billion.
- The company expects FY22 adjusted EPS of $0.38 - $0.41 versus the Street view of $0.41.
- Krispy Kreme sees organic revenue growth of 10% - 12% and Adjusted EBITDA of $210 million - $218 million.
- Krispy Kreme also reiterated its long-term outlook.
- Price Action: DNUT shares are trading higher by 5.41% at $12.87 on the last check Wednesday.
- Photo via Company
