Krispy Kreme soars on sweet earnings
Costs are down, sales are up, and investors are impressed.
Shares of Krispy Kreme Doughnuts (KKD) are skyrocketing today, up 18% in midday trading, after the company announced a killer third quarter.
Krispy Kreme beat Wall Street expectations handily -- not that those expectations were all that high to begin with.
Analysts were looking for a loss of a penny a share -- and Krispy Kreme surprised with $2.4 million in profit, or 3 cents a share. The company posted a $2.4 million loss a year ago.
Revenue jumped nearly 8% to $90.2 million from $83.6 million. Analysts expected $88.9 million. Post continues after video:
Combine those increased sales with a decrease in some costs. The company said general and administrative expenses fell, as did interest expenses on debt.
Now Krispy Kreme says operating income, exclusive of impairment and lease termination costs, should be between $17 million to $20 million (the previous forecast was $13 million to $17 million). Analysts have been expecting about $16 million.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Investors are anxious to see if hiring can maintain its strong pace in the second half of the year.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.