Krispy Kreme, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 29, 2024
November 07, 2024 at 06:45 am EST
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Krispy Kreme, Inc. reported earnings results for the third quarter and nine months ended September 29, 2024. For the third quarter, the company reported revenue was USD 379.87 million compared to USD 407.37 million a year ago. Net income was USD 39.56 million compared to net loss of USD 40.46 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to basic loss per share from continuing operations of USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to diluted loss per share from continuing operations of USD 0.24 a year ago.
For the nine months, revenue was USD 1,261.37 million compared to USD 1,235.2 million a year ago. Net income was USD 25.54 million compared to net loss of USD 40.54 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 0.24 a year ago.
Krispy Kreme, Inc. and its subsidiaries operate through an omni-channel business model to provide doughnut experiences and produce doughnuts for Doughnut Shops, Delivered Fresh Daily (DFD) outlets, and Ecommerce and delivery channels, expanding consumer access to the Krispy Kreme brand. The Company operates through three segments: U.S., International, and Market Development. The U.S. segment includes all its Company-owned operations in the U.S., including its Krispy Kreme-branded shops, DFD, and the recently exited Branded Sweet Treats business. The International segment includes all its Krispy Kreme Company-owned operations in the U.K., Ireland, Australia, New Zealand, and Mexico. The Market Development segment includes its franchise operations across the globe, as well as its Company-owned operations in Japan and Canada. The Company operates in approximately 35 countries through its network of fresh doughnut shops, partnerships with retailers, ecommerce, and delivery business.