The doughnut chain reports earnings below estimates but accelerates debt reduction plans amid cost pressures.
Krispy Kreme reported mixed quarterly earnings, missing revenue estimates while adjusting its debt-reduction strategy. The company posted adjusted earnings of 12 cents per share, falling short of the 15-cent consensus forecast.
Revenue rose 3.2% year-over-year to $410.6 million, below analysts’ expectations of $418 million. The company cited higher ingredient and labor costs as key challenges.
Krispy Kreme now aims to reduce debt by $100 million in 2024, up from its prior $75 million target, as part of a broader financial restructuring effort.