Krispy Kreme Inc.: Announces Updated 2021 Guidance

Charlotte / NC. (kkd) Krispy Kreme Doughnuts Inc. (KKD), since May 2016 indirect controlled member of Luxembourg’s JAB Holding Company, updated its guidance for full year 2021 because of strong momentum in the fourth quarter. As a result of better than previously expected growth, the Company is providing the following updated guidance for the full year of 2021:

Full Year 2021 Updated Guidance Prior Guidance
USD % Δ vs 2020 USD % Δ vs 2020
Millions, except %s Low High Low High Low High Low High
Net Revenue USD 1,370 USD 1,385 22% 23% USD 1,340 USD 1,380 19% 23%
Organic Revenue growth 12% 13% 10% 12%
Adjusted Ebitda USD 182 USD 187 25% 29% USD 178 USD 185 22% 27%
Adjusted Net Income USD 65 USD 68 53% 61% USD 62 USD 68 46% 61%

«Our global omni-channel business has continued to perform well as we benefit from the sharing and gifting occasions of the holiday season,» stated Mike Tattersfield, Chief Executive Officer. «Our U.S. and international businesses have both contributed significantly to our growth this quarter. We have been able to successfully pass through price increases in the U.S. in September and November addressing inflation.» Krispy Kreme also reiterated the following long-term outlook:

– Organic Revenue growth of 9 percent to 11 percent
– Adjusted Ebitda growth of 12 percent to 14 percent
– Adjusted Net Income growth of 18 percent to 22 percent

KKD anticipates exceeding these long-term targets in the full year 2022 as KKD will no longer be lapping the exit of its legacy wholesale business in the U.S.