Green Mountain Slips After Earnings
Green Mountain reported third quarter adjusted earnings of $0.99 per share, on revenue of $1.02 billion.
This tops earnings expectations for $0.89 per share, though revenue fell short of the Street's $1.05 billion estimate.
Shares of Keurig were down 3% in after hours trader after the company's Q4 adjusted EPS outlook came in at $0.68-$0.75 per share, lower than estimates for $0.86 per share.
For the full-year, Keurig expects adjusted earnings of $3.71-$3.78, better than its previous view of $3.63-$3.73. this is also better than expectations for $3.78.
"Our solid year-over-year brewer shipment growth of 13% and our 15% unit growth in portion packs is indicative of the continued expansion of the Keurig system across the U.S. and Canada," Brian Kelley, Keurig's President and CEO said in a press release.
"We also are excited about the imminent launch of our new Keurig 2.0 hot platform; the addition of formerly unlicensed and new brands to the Keurig hot beverage system during the quarter; and, our progress on the new Keurig Cold beverage system."
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