: Krispy Kreme stock drops after adjusted profit, revenue miss expectations while full-year outlook was maintained

Shares of Krispy Kreme Inc. DNUT dropped 8.3% in premarket trading Thursday, to put it on track to snap a seven-session win streak, after donut seller reported third-quarter adjusted profit and revenue that missed expectations. On a net basis, losses widened to $40.5 million, or 24 cents a share, from $13.1 million, or 8 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 3 cents, below the FactSet consensus of 6 cents. Revenue grew 7.9% to $407.4 million, to miss the FactSet consensus of $413.9 million, as U.S. sales rose 5.4% and international sales jumped 15.4%. The company reiterated its 2023 revenue outlook of $1.65 billion to $1.68 billion and for adjusted EPS of 31 cents to 34 cents. The stock has rallied 30.2% year to date through Wednesday while the S&P 500 SPX has gained 14.2%.

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