Krispy Kreme Stock Hits All-Time Low on Weaker-Than-Expected Results | Global News Avenue

Shares of Krispy Kreme (dnut) On Tuesday, more than 20% of the deal was sold at an all-time low as it was hit by a cyberattack and continued its restructuring efforts due to higher performance and guidance from donut manufacturers.

The company reported adjustments for the fourth quarter Earnings per share (EPS) Revenue was $0.01, down 10% year-on-year to $404 million. It can be seen that analysts surveyed by Alpha are looking for $0.09 and $411.1 million respectively.

Krispy Kreme said revenue declines were mainly due to the sale of its majority stake in insomnia cookies in the third quarter, and December hacker This has had a negative impact of about $11 million. The company said the incident caused operational disruptions, including online ordering in the U.S. “Online ordering, retail stores and core business functions are now fully operational.”

CEO Josh Charlesworth explained that ignoring cybersecurity issues was “largely in line with our expectations.” Charlesworth added that the company “restructured our management team to maximize U.S. expansion and international growth in capital lighting” and plans to outsource U.S. logistics. In addition, Krispy Kreme “has begun to evaluate the re-operation of certain international markets”.

The company’s full-year revenue ranged from $1.55 billion to $1.65 billion and has been adjusted EBITDA $180 million to $200 million. The visible Alpha is estimated at $1.76 billion and $235 million, respectively.

Krispy Kreme shares fell 23% to $7.01 in recent trading after hitting an all-time low of $6.35 shortly after the market opened. They have lost nearly half of their value in the past 12 months.