Krispy Kreme: Reports Strong Third Quarter 2023 Results

Charlotte / NC. (kkd) Krispy Kreme Doughnuts Inc., indirect member of Luxembourg’s JAB Holding, reported financial results for the third quarter ended October 01. Q3-2023 highlights versus Q3-2022:

  • Net Revenue grew 7.9 percent to USD 407.4 million
  • Organic Revenue grew 9.6 percent to USD 400.3 million
  • GAAP Net Loss of USD 40.3 million primarily driven by non-cash, income tax expense accrual
  • Adjusted Ebitda grew 13.5 percent to USD 43.7 million
  • Adjusted Ebitda margins improved 50 basis points to 10.7 percent
  • Global Points of Access growth accelerated, increasing 1,691, or 14.4 percent, to 13,394

«Our third quarter results showed the strength of our team, business model, and the power of our brand. We delivered revenue and Adjusted Ebitda growth, while delivering Adjusted Ebitda margin expansion through our hub and spoke model. Our global expansion continued, and our doughnuts became available in two new markets, Switzerland and Kazakhstan, and Insomnia Cookies expanded internationally into Canada and the United Kingdom. Overall, Global Points of Access growth accelerated, increasing by 1,691 or 14.4 percent year-over-year to 13,394,» stated CEO Mike Tattersfield. «We delivered the joy that is Krispy Kreme through powerful specialty doughnut offerings including the popular «M+Ms» collection, which was available in 17 countries, our extremely successful limited time offering with «Pumpkin Spice», and an innovative new partnership with Hailey Bieber to promote her Krispy Kreme inspired strawberry glazed peptide lip treatment.» For additional information please read the Company’s PDF file below (176 KB):