{"id":1326905,"date":"2022-02-22T12:27:19","date_gmt":"2022-02-22T17:27:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1326905"},"modified":"2022-02-22T12:38:12","modified_gmt":"2022-02-22T17:38:12","slug":"krispy-kreme-reports-first-quarterly-profit-since-going-public","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/krispy-kreme-reports-first-quarterly-profit-since-going-public\/","title":{"rendered":"Krispy Kreme Reports First Quarterly Profit Since Going Public"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkrispy-kreme-reports-first-quarterly-profit-since-going-public%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1326905&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Krispy Kreme reported its first quarterly profit since its July initial public offering, but its earnings fell short of Wall Street&#8217;s expectations.<\/li>\n<li>CEO Mike Tattersfield said in an interview that Krispy Kreme, like the broader restaurant industry, is seeing inflation.<\/li>\n<li>The company raised prices twice in the fourth quarter.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/DNUT\" target=\"_blank\" rel=\"noopener\">Krispy Kreme<\/a> on Tuesday reported its first quarterly profit since going public again but fell short of Wall Street&#8217;s expectations for its earnings.<\/p>\n<p>Shares of the doughnut company rose nearly 2% in premarket trading. Since its initial public offering in July, the stock has struggled, falling 33%.<\/p>\n<p>Here&#8217;s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:<\/p>\n<ul>\n<li>Earnings\u00a0per share: 8 cents adjusted vs. 9 cents expected<\/li>\n<li>Revenue: $371 million vs. $364 million expected<\/li>\n<\/ul>\n<p>Krispy Kreme reported fourth-quarter net income of $4.3 million, or 1 cent per share. A year ago, its quarterly net income was not meaningful, according to the company&#8217;s release.<\/p>\n<p>Excluding items, the company earned 8 cents per share, missing the 9 cents per share expected by analysts surveyed by Refinitiv.<\/p>\n<p>CEO Mike Tattersfield said in an interview that Krispy Kreme, like the broader restaurant industry, is seeing labor and commodity inflation, although it&#8217;s able to hedge against higher ingredient costs. The cost of sugar, wheat and oil make up about 12% of the company&#8217;s sales, and he said that <a href=\"https:\/\/www.cnbc.com\/2021\/11\/09\/krispy-kreme-revenue-beats-estimates-as-doughnut-chain-flexes-pricing-power.html\">the company has pricing power, too.<\/a><\/p>\n<p>In the fourth quarter, Krispy Kreme raised prices twice. Compared with the year-ago period, the company&#8217;s prices are now up by the high-single digits worldwide, according to Tattersfield.<\/p>\n<p>&#8220;We still seeing pricing as an opportunity,&#8221; he said.<\/p>\n<p>Net sales\u00a0rose 13.8% to $371 million, beating expectations of $364 million. Organic revenue climbed 13.9% compared with the year-ago period and 15.9% on a two-year basis.<\/p>\n<p>Tattersfield credited strong Halloween and holiday demand for the company&#8217;s strong sales growth. Looking ahead to the first quarter, he said Valentine&#8217;s Day also saw robust sales. The February holiday is typically the company&#8217;s biggest day for sales.<\/p>\n<p>&#8220;Our brand doesn&#8217;t tend to be a daily ritual,&#8221; Tattersfield said. &#8220;It tends to be at a gathering.&#8221;<\/p>\n<p>For 2022, Krispy Kreme is anticipating net revenue growth of 11% to 13%, in line with Wall Street&#8217;s expectations. But its outlook for adjusted earnings per share of 38 cents to 41 cents fell short of analysts&#8217; expectations of 45 cents per share.<\/p>\n<p><a href=\"https:\/\/www.globenewswire.com\/news-release\/2022\/02\/22\/2389073\/0\/en\/Krispy-Kreme-reports-strong-Fourth-Quarter-and-Full-Year-2021-results-at-the-top-end-of-guidance.html\" target=\"_blank\" rel=\"noopener\">Read the full earnings report here.<\/a><\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-6\" data-test=\"watchLiveRightRail-3\" data-analytics=\"RegularArticle-watchLiveRightRail-6-3\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMTgiIGhlaWdodD0iMTgiIHZpZXdCb3g9IjAgMCAxOCAxOCIgZmlsbD0ibm9uZSIgeG1sbnM9Imh0dHA6Ly93d3cudzMub3JnLzIwMDAvc3ZnIj4KPHBhdGggZD0iTTYuOTU5OTYgNi4xMjAwM0wxMS43NiA5LjAwMDAzTDYuOTU5OTYgMTEuODhWNi4xMjAwM1oiIGZpbGw9IndoaXRlIi8+CjxwYXRoIGZpbGwtcnVsZT0iZXZlbm9kZCIgY2xpcC1ydWxlPSJldmVub2RkIiBkPSJNOC41NiAwLjQ0MDAwMkMzLjgzMjQ0IDAuNDQwMDAyIDAgNC4yNzI0NSAwIDlDMCAxMy43Mjc2IDMuODMyNDQgMTcuNTYgOC41NiAxNy41NkMxMy4yODc2IDE3LjU2IDE3LjEyIDEzLjcyNzYgMTcuMTIgOUMxNy4xMiA0LjI3MjQ1IDEzLjI4NzYgMC40NDAwMDIgOC41NiAwLjQ0MDAwMlpNMS4xMiA5QzEuMTIgNC44OTEgNC40NTEgMS41NiA4LjU2IDEuNTZDMTIuNjY5IDEuNTYgMTYgNC44OTEgMTYgOUMxNiAxMy4xMDkgMTIuNjY5IDE2LjQ0IDguNTYgMTYuNDRDNC40NTEgMTYuNDQgMS4xMiAxMy4xMDkgMS4xMiA5WiIgZmlsbD0id2hpdGUiLz4KPC9zdmc+Cg==\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Krispy Kreme reported its first quarterly profit since its July initial public offering, but its earnings fell short of Wall Street&#8217;s expectations.<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1326905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1326905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1326905"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1326905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1326905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1326905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1326905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}