Green Mountain Coffee Roasters Falls After Q1 Results
Shares of Green Mountain Coffee Roasters (NASDAQ: GMCR) fell sharply on Wednesday after the company released its first-quarter earnings results. At last check, the stock was down 7 percent to $45.40. The company reported net income of $107.58 million or $0.70 per share, compared to $104.41 million or $0.66 per share, in the year ago period.
On a non-GAAP basis, which is comparable to analysts' consensus estimates, Green Mountain reported net income of $115.98 million or $0.76 per share, versus $96.00 million or $0.60 per share, last year. This easily topped analysts' consensus EPS estimates of $0.65.
Net sales in the quarter were up to $1.34 billion compared to the $1.16 billion that Green Mountain reported last year. This came in slightly ahead of consensus estimates calling for Q1 sales of $1.33 billion.
Looking ahead, the company said that it sees fiscal second-quarter sales growth of 14 to 18 percent versus last year's second-quarter. Non-GAAP earnings per share are anticipated to be between $0.70 and $0.75. This compares to current consensus estimates of $0.73 per share on revenue of $1.06 billion for the second-quarter.
For the full-year, Green Mountain raised its EPS guidance to a range of $2.72 to $2.82 compared to prior guidance of $2.64 to $2.74. Sales growth is expected to be between 15 to 20 percent for the full fiscal year. Currently, Wall Street analysts have consensus EPS estimates of $2.71 on revenue of $4.50 billion for Green Mountain's fiscal year.
Heading into the report, GMCR had been rising sharply. The decline in the stock in the after hours reflects some disappointment from investors despite the relatively good Q1 results and upwardly revised full-year earnings guidance. Prior to the report, GMCR had climbed better than 18 percent in 2013.
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