GMCR Releases Record Rise in Quarterly Revenue
Though, analysts were expecting the earnings for the quarter to be flat for Green Mountain Coffee Roasters (GMCR). A recent report has uncovered that the brand has realized a 33% upsurge in its revenue.
Following Tuesday's market close, quarterly results were posted by the company, which showed that its shares have gone up, becoming hot and caffeinated. The company behind the K-Cup refills and the Keurig single-cup brewer has noted the revenue for the quarter at $946.7 million.
Also, it has revealed that adjusted earnings have chased 36% growth to $0.64 a share. Brewer and accessory sales have realized an increase by 30%, which is hinting that Java sippers are not getting tired of the flagship machine of the company.
In addition, K-Cup portion packs have experienced an augment of almost 47%, which is a significant rise. The same points out that Kuerig brewers are being used more than before by folks. Though, analysts have proved to be wrong this time. It is being said that they had included an extra week into their projections.
Since, the fiscal period had one extra week, which could have made net sales and adjusted earnings realized with a cut of 20% from now.