Krispy Kreme posts Q2 earnings; 43% net revenue growth

Krispy Kreme (NASDAQ: DNUT) will post second-quarter earnings on Tuesday after market closed. The Company reported 43% net revenue growth and organic growth of 23%, following strong performance across all business segments. On a two-year stack basis, organic revenues grew 16% since 2019.

Key highlights:
  1. Organic revenue growth negatively impacted by $27.1 million in Q2 2021 and $57.9 million in the first half of 2021 due to exit of the legacy wholesale business.
  2. Non-GAAP figures – please refer to Reconciliation of Non-GAAP Financial Measures.
  3. Does not include legacy DSD doors as it only includes “fresh” points of access.
  4. Organic Revenue Growth “% vs 2019” figures are calculated as a two-year stack.
Earnings History: 

Krispy Kreme, Inc. witnessed a significant jump in revenue for the first quarter of 2021. The doughnut chain reported revenue of $321.81 million against $261.22 million in the corresponding period last year. It posted earnings per share (EPS) of -$44.71, up 71.93% year over year. In the same quarter the previous year, EPS achieved was -$159.29. 

 Krispy Kreme generated $1,122.0 million of net revenue and $152.8 millions of Adjusted EBITDA for 2020. The Adjusted net income reached $47.9 million, while the company posted net loss of $60.9 million.  

American doughnut company and coffeehouse chain, Krispy Kreme are famous for their glazed sugary doughnuts. Krispy Kreme first opened its store in North Carolina in 1937. It now operates shops in 30 countries. Besides the original glazed variety doughnut, the food chain also serves filled doughnuts, cake, fritters, and hot coffee and other snacks/ beverages.  

Krispy Kreme recently announced its collaboration with the Hershey’s brand to create the ultimate s’mores-inspired doughnuts. S’mores Classic Doughnut and S’mores Fudge Cake Doughnut are now available at Krispy Kreme locations for a limited time.  Krispy Kreme UK also announced an Xbox doughnut that is currently available in the UK till August 22. 

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