NASDAQ$DNUT
Krispy Kreme Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Krispy Kreme reported second quarter 2023 results, reiterating full year guidance.
Krispy Kreme's second quarter 2023 results showed a net revenue increase of 9.0% year-over-year to $408.9 million, with organic revenue growing by 11.4%. GAAP net income was $0.1 million, and Adjusted EBITDA reached $48.8 million.
- Net revenue increased by 9.0% with organic revenue growth of 11.4%.
- Global Points of Access grew by 12.8% reaching 12,872 locations.
- GAAP net income was $0.1 million, a significant increase from the net loss of $2.4 million in the previous year.
- Adjusted EBITDA increased by 3.1% to $48.8 million, driven by the U.S. and Market Development segments.
Headline financials
Revenue & EPS history
Krispy Kreme · Revenue · Quarterly
$409M
Revenue by segment
Krispy Kreme · $409M total across 3 segments · Q2 2023
- U.S.$267M+9.3%65.4%
- International$98.3M+4.8%24.0%
- Market Development$43.1M+17.4%10.5%
Forward guidance
Krispy Kreme re-affirms its previous guidance for the full year 2023.
Tailwinds
- Net Revenue of $1.65 billion to $1.68 billion, +8% to +10% vs 2022 (+9% to +11% in constant currency)
- Organic Revenue growth of 9% to 11%
- Adjusted EBITDA of $205 million to $215 million, +8% to +13% vs 2022 (+10% to +14% in constant currency)
- Adjusted Net Income, Diluted, of $52 million to $58 million, +5% to +17% vs 2022 (+9% to +21% in constant currency)
- Adjusted Diluted EPS of $0.31 to $0.34, +7% to +17% vs 2022 (+10% to +21% in constant currency)
Headwinds
- Income Tax rate between 24.5% to 26.0%
- Capital Expenditures between $105 million to $115 million, or approximately 6.6% of revenue
- Interest Expense, net between $39 million to $43 million
- The above guidance continues to assume a negative 1% impact to 2023 revenue and a negative $3 million impact to 2023 Adjusted EBITDA from FX headwinds, with the impact entirely in the first half of the year.
- The Company expects to reduce its net leverage in 2023, as we make progress towards our 2026 goal of approximately 2.0x to 2.5x net leverage.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.8%
Avg return
Earnings day
+0.7%
Avg return
5 days after
-1.2%
Avg return
30 days after
50%
11 / 22 earnings
Positive
+27.4%
Q4 2025
Best reaction
-24.6%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.1% | -9.1% | -3.8% | |
| Q4 2025 | +27.4% | +18.1% | +8.0% | |
| Q3 2025 | +3.2% | +15.6% | +13.8% | |
| Q1 2025 | -24.6% | -25.9% | -32.6% | |
| Q4 2024 | -21.9% | -32.0% | -39.9% | |
| Q3 2024 | -8.0% | -8.9% | -17.6% | |
| Q2 2024 | +15.0% | +11.2% | +25.3% | |
| Q1 2024 | +2.4% | -6.3% | -16.4% | |
| Q4 2023 | -7.2% | -6.2% | -14.2% | |
| Q3 2023 | -4.6% | -0.4% | -2.6% | |
| Q2 2023 | -10.1% | -7.8% | -8.9% | |
| Q1 2023 | +0.7% | -0.3% | +0.7% | |
| Q4 2022 | +10.9% | +7.1% | +16.2% | |
| Q3 2022 | +2.7% | +7.5% | -6.1% | |
| Q2 2022 | -13.9% | -18.1% | -16.0% | |
| Q1 2022 | +7.2% | +18.3% | +10.1% | |
| Q4 2019 | -4.1% | +3.6% | -1.4% | |
| Q4 2021 | +4.0% | +8.7% | +9.7% | |
| Q3 2020 | +10.2% | +10.6% | +19.6% | |
| Q3 2021 | -1.3% | +6.6% | +10.0% | |
| Q2 2020 | +6.2% | +19.2% | +8.3% | |
| Q2 2021 | -10.6% | +3.1% | +12.0% | |
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