Krispy Kreme (NASDAQ:DNUT) Announces Quarterly Earnings Results

Krispy Kreme (NASDAQ:DNUT) posted its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Briefing.com reports. Krispy Kreme had a negative return on equity of 4.25% and a negative net margin of 33.36%.The business had revenue of $367.03 million during the quarter, compared to analysts’ expectations of $359.42 million. During the same period in the prior year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis.

Here are the key takeaways from Krispy Kreme’s conference call:

• Krispy Kreme accelerated refranchising, completing deals in Japan with Unison Capital and reducing its Western U.S. JV stake to 20%, raising the expected franchise portion of system-wide sales from ~25% to 42% and targeting 50% in 2027, which reduced net debt and supports capital-light growth.
• Financial performance improved meaningfully — first-quarter Adjusted EBITDA $33.1M (+38% YoY), first positive Q1 free cash flow since the IPO, net leverage down to 5.5x, bank leverage below 4x, and liquidity above $300M.
• Full-year 2026 guidance was provided: net revenue of $1.25B–$1.35B, Adjusted EBITDA $140M–$150M, system-wide sales growth of 2%–4% to over $2B, capex of $50M–$60M, >100 shop openings (mostly franchised), and >$15M positive free cash flow.
• U.S. operations show higher profitability and efficiency — outsourced logistics, average weekly sales per door up to $685 (+16.7% YoY) and U.S. Adjusted EBITDA +61% — but organic U.S. revenue declined ~4% due to strategic closures and the exit from the McDonald’s partnership.

Krispy Kreme Stock Performance

Shares of NASDAQ DNUT traded down $0.04 during trading on Friday, reaching $3.60. 2,829,087 shares of the stock traded hands, compared to its average volume of 2,331,207. Krispy Kreme has a 52-week low of $2.50 and a 52-week high of $5.73. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.38 and a quick ratio of 0.32. The company has a 50-day moving average of $3.53 and a 200-day moving average of $3.72. The stock has a market capitalization of $620.57 million, a P/E ratio of -1.20 and a beta of 1.32.

Institutional Trading of Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its holdings in Krispy Kreme by 4.5% during the 4th quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock worth $336,000 after purchasing an additional 3,638 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Krispy Kreme by 1,229.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock valued at $33,000 after acquiring an additional 7,832 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Krispy Kreme by 21.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock valued at $192,000 after acquiring an additional 8,351 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Krispy Kreme by 69.1% during the 3rd quarter. Raymond James Financial Inc. now owns 21,287 shares of the company’s stock valued at $82,000 after buying an additional 8,701 shares in the last quarter. Finally, Nuveen LLC raised its holdings in shares of Krispy Kreme by 5.6% during the 4th quarter. Nuveen LLC now owns 165,576 shares of the company’s stock valued at $666,000 after buying an additional 8,735 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DNUT shares. Wall Street Zen cut Krispy Kreme from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Krispy Kreme in a research report on Tuesday, January 20th. Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target on the stock in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Krispy Kreme currently has a consensus rating of “Hold” and an average price target of $4.63.

Krispy Kreme News Roundup

Here are the key news stories impacting Krispy Kreme this week:

• Positive Sentiment: Krispy Kreme reported a 38% jump in adjusted EBITDA, indicating its turnaround efforts are improving margins and profitability. Krispy Kreme 1Q Adjusted EBITDA Jumps 38% Amid Turnaround
• Positive Sentiment: The company said it expects 2026 system-wide sales to rise 2% to 4% to more than $2 billion and guided to $140 million to $150 million in adjusted EBITDA, signaling confidence in the recovery. Krispy Kreme projects 2026 system-wide sales up 2% to 4% to over $2B while targeting $140M to $150M in adjusted EBITDA
• Positive Sentiment: Management highlighted “significant progress” on the turnaround, with narrowing losses and expanding margins suggesting the business is becoming more efficient. Krispy Kreme Narrows Loss, Sees Growth Returning as Turnaround Advances
• Neutral Sentiment: The company also leaned into seasonal marketing, bringing back Mother’s Day-themed mini and special-flavor doughnuts, which may help near-term sales but is not a major financial catalyst. Krispy Kreme releases special flavors for Mother’s Day
• Negative Sentiment: Q1 EPS came in at a loss of $0.05 per share, wider than the $0.03 loss analysts expected, showing profitability remains under pressure. Krispy Kreme (DNUT) shares rise despite quarterly earnings and revenue miss
• Negative Sentiment: Revenue fell 2.2% year over year to $367 million, and the company guided 2026 revenue below Wall Street’s expectation, which could limit upside if growth does not accelerate. Krispy Kreme Reports First Quarter 2026 Financial Results Demonstrating Significant Progress on Turnaround

Krispy Kreme Company Profile

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.