The earnings call reflects a strategic pivot towards a capital-light franchise model and marketing focus on core products, which are positive steps. However, financial metrics, including a significant decline in adjusted EBITDA and impairment charges, indicate current challenges. The digital growth and expansion with major retailers provide a positive outlook, but immediate financial performance issues balance the sentiment.

Company Guidance

During the Krispy Kreme Second Quarter 2025 Earnings Call, the company outlined its strategic guidance emphasizing profitable U.S. expansion and international franchise growth. Key metrics highlighted included a net revenue of $379.8 million and an adjusted EBITDA of $20.1 million, both affected by the divestiture of Insomnia Cookies and the termination of the McDonald's USA partnership. The company is targeting a deleveraging of its balance sheet by refranchising select international markets and reducing ownership stakes in joint ventures, while also focusing on expanding margins and sustainable growth. Krispy Kreme aims to open a new production hub in Minneapolis and plans to enhance profitability by optimizing its U.S. delivery network, having already exited 1,500 underperforming doors and added 1,100 profitable ones. The shift to a capital-light franchise model is expected to lower capital expenditures, with the company reporting over $200 million in excess liquidity.

Global Franchise Expansion

Krispy Kreme is focusing on a capital-light international franchise model, with new market entries in Spain and expanding existing franchises in South Korea, the Middle East, France, and Brazil.

U.S. Marketing Focus Shift

The company launched a new marketing campaign centered on the Original Glazed doughnut, driving incremental sales and increasing excitement around their core product.

Digital Growth

Digital sales increased by double digits and accounted for more than 20% of U.S. retail sales during the quarter.

Expansion with Major Retailers

Added over 400 doors with major customers like Costco, Walmart, Target, and Kroger in the second quarter alone.

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)	-0.07 / -	-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
Aug 07, 2025	$3.42	$3.18	-7.02%
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%

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.