Krispy Kreme, Inc. (DNUT) recently disclosed a larger first-quarter net loss compared to the same period last year. The company noted a net loss of $8.5 million, up from last year's figure of $0.3 million. This translates to a loss per share of $0.05, in comparison to no loss reported the previous year.
The doughnut brand also reported an adjusted earning per share of $0.07, down from $0.09 in the same period the previous year. Net revenue, however, showed a 5.7 percent increase to $442.7 million from $419.0 million in the previous year. Organic revenue followed a similar pattern, growing by 6.7 percent to $440.9 million.
These numbers were close to analyst predictions, who on average expected the company to report earnings of $0.06 per share with revenues of $434.1 million. These estimations, collated by Thomson Reuters, typically exclude any special items.
Looking ahead to fiscal 2024, Krispy Kreme continues to forecast an adjusted earning per share of between $0.27 and $0.31, alongside a net revenue growth of 5 to 7 percent, and organic revenue growth of 6 to 8 percent. Current market predictions suggest an earning of $0.28 per share for the fiscal year.
It's also worth noting that, in pre-market activity on the Nasdaq, Krispy Kreme shares have been gaining, with an approximate increase of 2.3 percent to $13 per share.
