2023-05-11 07:08:21 ET
Krispy Kreme ( NASDAQ: DNUT ) reported revenue grew 12.5% year-over-year in Q1 to $419.0M. Organic revenue rose 14.4% during the quarter, led by robust performances in the U.S. and Market Development segments.
The chain got bigger during the quarter with global points of access, which reflect all locations where fresh doughnuts and cookies can be purchased, increasing by nearly 600 during the quarter. Krispy Kreme and Insomnia Cookies had 12,400 combined locations around the world at the end of the quarter.
Adjusted EBITDA increased 12.3% to $54.9M or 13.1% of sales.
On the balance sheet, Krispy Kreme ( DNUT ) invested $26.6M in capital expenditures, primarily to support growth of the hot light theaters, cookie shops, and DFD Doors. The restaurant operator had $29.7M of cash and net debt of $792.7M at the end of the quarter.
Looking ahead, Krispy Kreme ( DNUT ) sees full-year revenue of $1.65B to $1.68B vs. $1.68B consensus.
Shares of Krispy Kreme ( DNUT ) trickled 0.10% higher in premarket action.
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Krispy Kreme tops estimates off sizzling organic sales growth