Business
Krispy Kreme Reports Strong Second Quarter 2021 Results, Demonstrates Power of Omni-Channel Strategy
Net Revenue Growth of 43% and Organic Growth of 23% Adjusted EBITDA Growth of 78% Provides 2021 Guidance and Long-Term Financial Outlook CHARLOTTE,
About this update from Krispy Kreme, Inc.
[{"type":"text","content":"\nNet Revenue Growth of 43% and Organic Growth of 23%\n\nAdjusted EBITDA Growth of 78%\n\nProvides 2021 Guidance and Long-Term Financial Outlook\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nKrispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme” or the “Company”) today reported financial results for the second quarter ended July 4, 2021 and issued full-year and long-term guidance. The Company reported 43% net revenue growth and organic growth of 23%, following strong performance across all business segments. On a two-year stack basis, organic revenues grew 16% since 2019.\n\n“These results show the ongoing success from the implementation of our growth strategy,” said Mike Tattersfield, CEO of Krispy Kreme. “Our continued delivery of organic revenue growth and Adjusted EBITDA ahead of our expectations demonstrates that our omni-channel approach is working. The second quarter saw great continued momentum in the U.S. and Canada, enhanced by strong ongoing recovery in International. As a result, we are confident in our short and long-term growth targets as we continue to execute on our strategy, providing awesome fresh doughnuts as we become the most loved sweet treat brand in the world.”\n\n\n\n$ in millions, except per share data\n\n\n\nQ2\n2021\n\n\n\n%\n\n\nvs 2020 \n\n\n\n%\nvs 2019 \n\n\n\nFirst Half 2021\n\n\n\n%\n\n\nvs 2020 \n\n\n\n\n\nNet Revenue\n\n\n\n$349.2\n\n\n\n42.6%\n\n\n\n49.8%\n\n\n\n$671.0\n\n\n\n32.6%\n\n\n\n\n\nOrganic Revenue Growth(1) (2) (4)\n\n\n\n$55.0\n\n\n\n22.5%\n\n\n\n15.7%\n\n\n\n$76.8\n\n\n\n15.2%\n\n\n\n\n\nGAAP Net Income/(Loss)\n\n\n\n$(15.0)\n\n\n\n(28.3)%\n\n\n\n(69.6)%\n\n\n\n$(15.4)\n\n\n\n32.1%\n\n\n\n\n\nAdjusted Net Income(2)\n\n\n\n$20.5\n\n\n\n254.1%\n\n\n\n199.1%\n\n\n\n$38.1\n\n\n\n125.5%\n\n\n\n\n\nAdjusted EBITDA(2)\n\n\n\n$52.4\n\n\n\n77.8%\n\n\n\n64.5%\n\n\n\n$98.8\n\n\n\n49.9%\n\n\n\n\n\nAdjusted EBITDA Margin(2)\n\n\n\n15.0%\n\n\n\n+300bps\n\n\n\n+130bps\n\n\n\n14.7%\n\n\n\n+170bps\n\n\n\n\n\nGAAP Diluted EPS\n\n\n\n$(0.13)\n\n\n\n(30.0)%\n\n\n\n-\n\n\n\n$(0.16)\n\n\n\n15.8%\n\n\n\n\n\nAdjusted Diluted EPS(2)\n\n\n\n$0.13\n\n\n\n225.0%\n\n\n\n-\n\n\n\n$0.25\n\n\n\n108.3%\n\n\n\n\n\nGlobal Points of Access(3)\n\n\n\n9,575\n\n\n\n69.9%\n\n\n\n58.5%\n\n\n\n-\n\n\n\n-\n\n\n\n\n\nNotes:\n\n\n\nOrganic revenue growth negatively impacted by $27.1 million in Q2 2021 and $57.9 million in the first ha...