Krispy Kreme's stock drops on earnings miss

Dow Jones11-07

MW Krispy Kreme's stock drops on earnings miss

Krispy Kreme Inc.'s stock $(DNUT)$ moved lower by 7.4% on Thursday after the company posted a narrow third-quarter adjusted loss instead of a projected profit and missed its revenue target. Krispy Kreme said it earned $39.6 million, or 23 cents a share in the third quarter. In the year ago period, it lost $40.46 million, or 24 cents a share. Breaking out the gain from the sale its majority ownership stake of Insomnia Cookies and other one-time items, Krispy Kreme lost a penny a share in the third quarter. Analysts polled by FactSet had estimated a profit of a penny a share. Krispy Kreme's revenue fell to $370.7 million from $398.8 million and missed the analyst estimate of $380.3 million.

-Steve Gelsi

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November 07, 2024 07:10 ET (12:10 GMT)

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