Companies and Brands
Keurig Green Mountain Redemption on Earnings and Smucker Pact
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Keurig Green Mountain, Inc. (NASDAQ: GMCR) is out with its second quarter earnings report, and the company earned $260 million. This comes to $1.03 per share, but the adjusted earnings per share used by analysts is actually $1.08. Revenue was up by 10% to $1.10 billion. Thomson Reuters had estimates of $0.94 per share and $1.05 billion.
Guidance on earnings was put at $0.83 to $0.88 per share for the coming quarter, and $3.63 to $3.73 per share for the year. Thomson Reuters has estimates of $0.88 per share for the quarter $3.72 per share for the year. Revenue growth was put in the high single digits.
Perhaps the larger news rather than just one quarter is an expanded partnership agreement with J.M. Smucker in a multi-year deal.
The coffee player spent $700 million buying back its own shares, but it has approval to buy back up to $1 billion over the next two years.
Keurig Green Mountain share closed down 3.25 at $92.21 on Wednesday, but the stock was up by over 6% at $98.00 in the after-hours trading session. Its market cap was $13.7 billion today before the adjusted bounce, and its 52-week trading range is $56.87 to $124.42.
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