In This Article:
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Revenue: $404 million for the fourth quarter.
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Organic Revenue Growth: 1.8% despite a 280-basis-point headwind from a cybersecurity incident.
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Adjusted EBITDA: $45.9 million, with a margin of 11.4%.
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Cybersecurity Incident Impact: Estimated $11 million revenue impact and $10 million adjusted EBITDA impact.
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US Segment Organic Revenue Decline: 1.2%, primarily due to a 460-basis-point impact from the cybersecurity incident.
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Global Points of Access Growth: 24% overall, with US points of access growing by 34%.
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International Organic Revenue Growth: 7.8%, led by Canada and Japan.
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Adjusted Earnings Per Share: $0.11 for the year, with a $0.04 impact from the cybersecurity incident.
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Net Revenue Guidance for 2025: $1.55 billion to $1.65 billion.
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Organic Revenue Growth Guidance for 2025: 5% to 7%.
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Adjusted EBITDA Guidance for 2025: $180 million to $200 million.
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First Quarter 2025 Revenue Guidance: $370 million to $390 million.
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First Quarter 2025 Adjusted EBITDA Guidance: $25 million to $30 million.
Release Date: February 25, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Krispy Kreme Inc (NASDAQ:DNUT) achieved its eighteenth consecutive quarter of organic sales growth.
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The company reported a 21% revenue growth in its US delivered fresh daily network, surpassing $250 million in sales.
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Krispy Kreme Inc (NASDAQ:DNUT) expanded its global points of access by 24%, adding over 2,800 new doors in the US.
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The company is focusing on its core offerings and plans to spotlight its Original Glazed Doughnuts to attract value-conscious consumers.
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Krispy Kreme Inc (NASDAQ:DNUT) is expanding its international franchise model, with plans to open in new countries like Brazil and Spain in 2025.
Negative Points
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The company faced a cybersecurity incident that impacted Q4 revenue by $11 million and adjusted EBITDA by $10 million.
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Organic revenue growth was affected by a 280-basis-point headwind from the cybersecurity incident.
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The US segment saw a 1.2% decline in organic revenue, primarily due to the cybersecurity incident.
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Krispy Kreme Inc (NASDAQ:DNUT) anticipates margin compression in the first half of 2025 due to lingering impacts of the cybersecurity incident.
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The company is experiencing consumer softness and adverse weather impacts, which are expected to affect Q1 2025 results.
Q & A Highlights
Q: How are you expecting OpEx expenses to trend in 2025, considering the cybersecurity incident and the absence of Insomnia Cookies? A: Alexandre Eldredge, Krispy Kreme - Investor Relations: We are investing in operations leadership and outsourcing logistics to streamline operations. This will pressure OpEx in the first half of the year, but we expect to leverage these investments in the second half.