The earnings call presented a mix of progress and challenges. While Krispy Kreme is expanding internationally and improving operational efficiencies, it faces significant challenges with its McDonald's partnership and financial pressures from declining organic revenue and cybersecurity impacts. The company's focus on deleveraging and strategic growth is counterbalanced by the need to pause expansion efforts and reassess strategies.

Company Guidance -

Q3 2025

During the Krispy Kreme First Quarter 2025 Earnings Call, the company outlined several strategic initiatives aimed at driving profitable growth and improving financial flexibility. The company is focusing on its long-term goal of reaching 100,000 points of access, emphasizing profitable U.S. expansion and capital-light international franchise growth. In Q1 2025, Krispy Kreme reported net revenue of $375.2 million and an adjusted EBITDA of $24 million with a margin of 6.4%. The U.S. segment saw an organic revenue decline of 2.6%, with an average revenue per door per week (APD) of $587. Internationally, organic revenue grew by 1.5%, led by strong performance in Canada. The company is also pursuing a refranchising strategy in certain international markets, aiming to deleverage the balance sheet and strengthen financial stability. For Q2, Krispy Kreme expects revenue between $370 and $385 million and adjusted EBITDA of $30 to $35 million. The company also announced the discontinuation of its quarterly dividend to prioritize debt repayment.

Expansion in International Markets

Krispy Kreme opened in Brazil with $100,000 in sales in the first two days, surpassing the France launch in 2023. The company is considering refranchising operations in Australia, New Zealand, Japan, Mexico, the UK, and Ireland to strengthen its capital-light international franchise growth.

Cost Reduction and Operational Efficiency

Krispy Kreme has begun outsourcing fresh doughnut delivery, expecting 15% of the network to be outsourced by May, with further plans to fully outsource US logistics by mid-next year. This move has resulted in excellent service rates and predictable costs.

New Marketing Campaigns and Product Innovations

Krispy Kreme is launching a multimedia marketing campaign on June 6, National Donut Day. The company has seen success with new product innovations like the Fruity Pebbles glaze, which sold out daily in April.

Increase in Points of Access

The company has added nearly 100 new cabinets to its DFD channel, bringing the total to more than 600. Krispy Kreme is also expanding availability through new partnerships with Costco and a pilot with Sam's Club.

Improvement in Employee Turnover

Krispy Kreme has improved employee turnover by over 30% year over year, supported by new role-based training, onboarding programs, and an incentive program.

Krispy Kreme (DNUT) Earnings, Revenues Date & History

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DNUT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	-0.05 / -	-0.01	―	―	―
Aug 07, 2025	2025 (Q2)	-0.03 / -0.15	0.05	-400.00% (-0.20)
May 08, 2025	2025 (Q1)	-0.05 / -0.05	0.07	-171.43% (-0.12)
Feb 25, 2025	2024 (Q4)	0.10 / 0.01	0.09	-88.89% (-0.08)
Nov 07, 2024	2024 (Q3)	0.01 / -0.01	0.03	-133.33% (-0.04)
Aug 08, 2024	2024 (Q2)	0.05 / 0.05	0.07	-28.57% (-0.02)
May 09, 2024	2024 (Q1)	0.06 / 0.07	0.09	-22.22% (-0.02)
Feb 13, 2024	2023 (Q4)	0.13 / 0.09	0.11	-18.18% (-0.02)
Nov 09, 2023	2023 (Q3)	0.06 / 0.03	0.03	0.00% (0.00)
Aug 10, 2023	2023 (Q2)	0.07 / 0.07	0.08	-12.50% (>-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DNUT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 08, 2025	$4.33	$3.26	-24.71%
Feb 25, 2025	$9.06	$7.07	-21.96%
Nov 07, 2024	$12.27	$11.71	-4.56%
Aug 08, 2024	$9.06	$10.28	+13.47%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.