Krispy Kreme Reports $3.8M Loss

Shares of the doughnut maker's stock fell Wednesday.

Krispy Kreme store in Charlotte, N.C., Jan. 2020.
Krispy Kreme store in Charlotte, N.C., Jan. 2020.
iStock

CHARLOTTE, N.C. (AP) β€” Krispy Kreme Inc. on Wednesday reported a loss of $3.8 million in its second quarter.

The Charlotte-based company said it had a loss of $0.02 per share. Earnings, adjusted for one-time gains and costs, were $0.08 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $0.09 per share.

The doughnut wholesaler and retailer posted revenue of $375.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $383.2 million.

Krispy Kreme expects full-year earnings in the range of $0.29 to $0.32 per share, with revenue in the range of $1.49 billion to $1.52 billion.

Shares of the company's stock were down down $1.76 to $12.76 in Wednesday trading.

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