Krispy Kreme Reports Second Quarter Earnings for FY 2023
August 21, 2023
🌥️Earnings Overview
For the second quarter of 2023, KRISPY KREME ($NASDAQ:DNUT) reported a total revenue of USD 408.9 million, 9.0% higher than that for the same period the previous year. Net income also increased by 105.7%, reaching USD 0.22 million.
Stock Price
Krispy Kreme reported their second quarter earnings for fiscal year 2023 on Thursday. The stock opened at $13.8 but quickly dropped to $12.4, a 13.7% plunge from the previous closing price of 14.4. This large drop was due to investors being worried about the company’s outlook amid the current pandemic. Despite the decrease in share prices, the company reported strong earnings and increased global revenues during the quarter. Krispy Kreme CEO Mike Tattersfield commented on the historic quarter, saying, “We are proud to have delivered another strong quarter of financial performance, driven by our outstanding global teams and enabled by our robust strategies and operations.
Our second quarter performance reflects the continued success of our initiatives to drive sustainable growth and profitability.” This is a testament to their resilience in the face of challenging times and will likely result in a strong third quarter as well. Overall, Krispy Kreme had a strong second quarter, and the stock plunge is not likely to affect their long-term prospects. Investors should keep an eye on the company moving forward as they enter the third quarter of fiscal 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Krispy Kreme. More…
| Total Revenues | Net Income | Net Margin |
| 1.61k | -15.85 | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Krispy Kreme. More…
| Operations | Investing | Financing |
| 132.15 | -117.3 | -10.58 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Krispy Kreme. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.17k | 1.87k | 7.19 |
Key Ratios Snapshot
Some of the financial key ratios for Krispy Kreme are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.8% | -13.9% | 1.2% |
| FCF Margin | ROE | ROA |
| 1.1% | 1.0% | 0.4% |
Analysis
GoodWhale has detected two risk warnings in KRISPY KREME‘s balance sheet and cashflow statement. To view these warnings, you will need to register as a GoodWhale user. By signing up, you will gain access to a comprehensive review of KRISPY KREME’s financials and all of the associated risks. With GoodWhale, you can make the most informed decisions when it comes to investing in KRISPY KREME. More…
Peers
In the competitive world of donut making, there are a few key players that stand out. Krispy Kreme Inc, Loblaw Companies Ltd, Woolworths Group Ltd, and Atacadao SA are all major companies in the industry. They all have their own unique recipes, strengths, and weaknesses. However, Krispy Kreme seems to be the clear leader in terms of market share and profitability.
– Loblaw Companies Ltd ($TSX:L)
Loblaw Companies Ltd. is a Canadian food and pharmacy retailer headquartered in Brampton, Ontario. The company has more than 2,000 stores across Canada and employs more than 190,000 people. The company’s grocery store banners include Loblaws, Real Canadian Superstore, Fortinos, No Frills, and Shoppers Drug Mart. Loblaw is the largest food retailer in Canada and the largest pharmacy chain in the country. The company also has a large financial services division that includes President’s Choice Financial and PC Insurance.
– Woolworths Group Ltd ($ASX:WOW)
Woolworths Group Ltd is a retail company with operations in Australia and New Zealand. The company has a market capitalization of 40.58 billion as of 2022 and a return on equity of 23.27%. Woolworths Group Ltd is engaged in the retail sale of food, liquor, petrol, general merchandise, and home improvement products. The company also provides financial services, including credit cards, personal loans, and insurance products.
– Atacadao SA ($OTCPK:ATAAY)
Atacadao SA is a Brazilian company that operates as a wholesale distributor of food, non-food items, and personal care products. The company has a market cap of 7.48B as of 2022 and a Return on Equity of 19.02%. Atacadao SA operates through two segments: Food Distribution and Non-food Distribution. The Food Distribution segment offers meat, poultry, fish, fruits, vegetables, sugar, coffee, grains, and dairy products. The Non-food Distribution segment includes general merchandise, home appliances, electronics, and personal care products.
Summary
Krispy Kreme reported strong second quarter financial results for fiscal year 2023, with total revenue rising 9.0% and net income increasing 105.7% year-over-year. Despite this positive news, the company’s stock price dropped on the same day. Investors should take this into consideration when deciding whether or not to invest in Krispy Kreme stock. Analysts should look at the company’s fundamental financials, such as revenue growth, profitability, and return on equity, to assess whether the stock is a good investment.
Additionally, investors should pay close attention to management’s plans for future growth and the competitive landscape of the industry.
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