Krispy Kreme (DNUT) Updates FY21 Guidance

Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme” or the “Company”) today updated its guidance for full year 2021 because of strong momentum in the fourth quarter. As a result of better than previously expected growth, the Company is providing the following updated guidance for the full year of 2021:

(Consensus sees FY21 revenue of $1.37 billion)

“Our global omni-channel business has continued to perform well as we benefit from the sharing and gifting occasions of the holiday season,” stated Mike Tattersfield, Chief Executive Officer. “Our U.S. and international businesses have both contributed significantly to our growth this quarter. We have been able to successfully pass through price increases in the U.S. in September and November addressing inflation.”

Krispy Kreme also reiterated the following long-term outlook:

Organic Revenue growth of 9% to 11%
Adjusted EBITDA growth of 12% to 14%
Adjusted Net Income growth of 18% to 22%

We anticipate exceeding these long-term targets in the full year 2022 as we will no longer be lapping the exit of our legacy wholesale business in the U.S.

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