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Oct 03, 2021
Krispy Kreme Q3 2021 Earnings Report
Reported strong financial results with net revenue growing year-over-year and reaffirmed full year 2021 guidance.
Key Takeaways
Krispy Kreme reported strong Q3 2021 results, with net revenue growing 18% year-over-year. Organic growth, excluding the legacy wholesale business, was 14% year-over-year. Adjusted diluted EPS was $0.06, and adjusted EBITDA grew 10%. The company reaffirmed its full year 2021 guidance and long-term outlook, expecting 2022 to exceed the long-term outlook.
Net revenue grew 18% year-over-year.
Organic growth, excluding the legacy wholesale business, was 14% year-over-year.
Adjusted diluted Earnings Per Share was $0.06.
Adjusted EBITDA grew 10%.
Forward Guidance
Krispy Kreme reaffirmed the following guidance for the full year 2021 and reiterated the following long-term outlook, anticipating exceeding these long-term targets in the full year 2022.
Positive Outlook
- Net Revenue of $1.34 billion to $1.38 billion (growth of 19.4% to 23.0%)
- Organic Revenue growth of 10% to 12%
- Adjusted EBITDA of $178 million to $185 million (growth of 22.4% to 27.2%)
- Adjusted Net Income of $62 million to $68 million (growth of 46.4% to 60.6%)
- Organic Revenue growth of 9% to 11%
Challenges Ahead
- Adjusted EBITDA growth of 12% to 14%
- Adjusted Net Income growth of 18% to 22%
- Impact of acquisitions
- Impact of foreign currency translation
Historical Earnings Impact
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