Krispy Kreme Raises FY21 Outlook; Reaffirms Long-Term Forecast

• Krispy Kreme Inc (NASDAQ: DNUT) has updated its guidance for full-year 2021, citing strong momentum in the fourth quarter.

• The company raised the FY21 sales outlook to $1.37 billion - $1.385 billion from the prior view of $1.34 billion - $1.38 billion, against the consensus of $1.37 billion.

• The company expects an adjusted EBITDA of $182 million - $187 million, versus the previous expectation of $178 million - $185 million.

• "We have been able to successfully pass through price increases in the U.S. in September and November addressing inflation," stated CEO Mike Tattersfield.

• Krispy Kreme also reiterated its long-term outlook for organic revenue growth of 9% - 11%, adjusted EBITDA growth of 12% - 14%, and adjusted net income growth of 18% - 22%.

• Meanwhile, the company anticipates exceeding the long-term targets in the full year 2022.

• Price Action: DNUT shares are trading lower by 2.15% at $16.80 in premarket on the last check Monday.

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