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- Krispy Kreme Inc (NASDAQ:DNUT) reported first-quarter FY23 sales growth of 12.5% year-on-year to $419 million, beating the consensus of $401.61 million.
- Organic revenue growth of 14.4% led by strong performances in the U.S. and Market Development segments.
- Revenue in the U.S. segment climbed 13.5% Y/Y to $281.3 million, the International segment grew 3.5% to $90.3 million, and Market Development increased 26.5% to $47.3 million.
- E-commerce constituted 19.6% of retail sales, a 220-basis points improvement from last year.
- Operating income for the quarter plunged 13.5% to $14.9 million, with an operating margin of 3.6%.
- Adjusted EBITDA increased 12.3% Y/Y to $54.9 million, and the EBITDA margin remained flat at 13.1%.
- Adjusted EPS of $0.09 topped the consensus of $0.07.
- The company held $29.7 million in cash and equivalents as of April 2, 2023.
- Outlook: Krispy Kreme reaffirmed its FY23 sales outlook of $1.65 billion – $1.68 billion, against the consensus of $1.68 billion.
- The company reiterated its FY23 adjusted EPS outlook of $0.31 - $0.34 versus the Street view of $0.33.
- Krispy Kreme sees organic revenue growth of 9% - 11% and Adjusted EBITDA of $205 million - $215 million.
- Price Action: DNUT shares are trading higher by 4.36% at $15.64 in premarket on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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