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Krispy Kreme raises revenue, earnings guidance
Photo: Krispy Kreme, Inc.
CHARLOTTE, NC. — Krispy Kreme, Inc. on Dec. 20 raised its guidance for full-year revenue, net income and adjusted EBITDA, citing strong momentum in the fourth quarter and "better-than-previously-expected growth."
Net revenue guidance for fiscal 2021 was raised to $1.37 billion to $1.385 billion, up from $1.34 billion to $1.38 billion. Adjusted net income guidance was raised to $65 million to $68 million, up from $62 million to $68 million. Adjusted EBITDA, meanwhile, was raised to $182 million to $187 million, up from $178 million to $185 million.
"Our global omni-channel business has continued to perform well as we benefit from the sharing and gifting occasions of the holiday season," said Mike Tattersfield, chief executive officer. "Our US and international businesses have both contributed significantly to our growth this quarter. We have been able to successfully pass through price increases in the US in September and November addressing inflation."
Krispy Kreme also reiterated its long-term outlook for organic revenue growth of 9% to 11%, adjusted net income growth of 18% to 22%, and adjusted EBITDA growth of 12% to 14%.
The company said it expects to exceed those long-term targets in the full year 2022 as it will no longer be lapping the exit of its legacy wholesale business in the United States.
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