Krispy Kreme Inc (NASDAQ:DNUT) is trading higher Tuesday after the company announced better-than-expected top-line financial results and raised its quarterly dividend.
Krispy Kreme reported fourth-quarter revenue of $370.6 million, which beat the $363.66 million estimate. The company reported earnings of 8 cents per share, which came in below the estimate of 10 cents per share.
Krispy Kreme said growth was driven by the performance and expansion of its capital-efficient hub and spoke operating model, as well as by strong performances across all three business segments. The company also raised its quarterly dividend from 9 cents per share to 10 cents per share.
"Looking ahead, we are well-positioned to deliver another year of double-digit revenue growth in 2022. Our performance will be led by the expansion of our omni-channel model, as we continue to significantly expand our points of access," said Mike Tattersfield, CEO of Krispy Kreme.
Krispy Kreme expects full-year 2022 revenue to be between $1.53 billion and $1.56 billion versus the $1.55 billion estimate. The company expects full-year earnings to be in a range of 38 cents to 41 cents per share versus the estimate of 46 cents per share.
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DNUT Price Action: Krispy Kreme has traded as low as $12.63 and as high as $21.69 over a 52-week period.
The stock was up 7.53% at $14.78 at time of publication.
Photo: Jim, the Photographer from Flickr.
