CHARLOTTE, North Carolina. – Krispy Kreme, Inc. on December 20 raised its forecast for revenue, net income and Adjusted EBITDA for the year, citing strong momentum in the fourth quarter and “better than expected growth.”
The net revenue forecast for fiscal 2021 has been raised from $ 1.37 billion to $ 1.385 billion, from $ 1.34 billion to $ 1.38 billion. Adjusted net income guidance was increased from $ 65 million to $ 68 million, from $ 62 million to $ 68 million. Adjusted EBITDA, meanwhile, increased to $ 182 million to $ 187 million from $ 178 million to $ 185 million.
“Our global omnichannel business has continued to perform well as we take advantage of the holiday sharing and gifting opportunities,” said Mike Tattersfield, Managing Director. “Our US and international operations both contributed significantly to our growth this quarter. We were able to weather price increases in the United States in September and November to fight inflation. “
Krispy Kreme also reiterated its long-term outlook for organic revenue growth of 9% to 11%, adjusted net income growth of 18% to 22% and adjusted EBITDA growth of 12% to 14%.
The company said it plans to exceed those long-term goals in the year 2022, as it will no longer exceed the exit from its wholesale business in the United States.