Stock Track | Krispy Kreme Shares Plunge in Pre-Market After Q3 Earnings Miss

Stock Track11-07

Krispy Kreme Inc. saw its shares plummet over 7% in pre-market trading on Wednesday after the doughnut chain reported weaker-than-expected earnings for the third quarter of fiscal 2024.

The Charlotte-based company posted an adjusted EBITDA of $34.7 million for the quarter, missing analysts' consensus estimate of $41.8 million. Krispy Kreme's revenue of $379.9 million also narrowly missed expectations of $380.3 million.

Perhaps more concerningly, the company reported an adjusted net loss of $2.5 million, compared to analysts' projections of a $2.61 million profit. This represents a significant swing from the same period last year when Krispy Kreme posted an adjusted net income.

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