尽管第三季度业绩好坏参半，Krispy Kreme仍上涨

Shares of Krispy Kreme (DNUT) rose nearly 12% during pre-market trading on Thursday after the company reported mixed Q3 results but generated positive cash flow from operations for the first time in three quarters.

The doughnut company and coffeehouse chain, in its quarterly financial statement, said that it generated $42.3 million in operating cash with free cash flow of $15.5 million.

The company said that its adjusted EBITDA increased 17% to $40.6 million, more than double that of the second quarter of 2025. 

“Looking ahead to the remainder of 2025 and beyond, we expect further improvement in adjusted EBITDA and positive free cash flow. We also anticipate progress on our refranchising agenda and continued profitable expansion with key customers in the U.S., all while reducing capital spending and paying down debt,” said Krispy Kreme CEO Josh Charlesworth.

For the third quarter, the company’s revenue of $375.3 million was nearly $3 million below market estimates. However, its non-GAAP EPS of $0.06 beat Wall Street estimates.

As part of its turnaround plans, the company is closing its unprofitable global point of access, reducing the total number to 14,851 from 15,811 a year ago.

“The third quarter marked a significant pivot as we implemented our comprehensive turnaround plan, focused on Krispy Kreme’s two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth. Early results showed progress over the second quarter with reduced leverage, positive free cash flow, and substantially higher adjusted EBITDA,” added Charlesworth.

In the international segment, net revenue also grew by $9.5 million, or approximately 7.3%, with a foreign currency translation benefit of $1.2 million. 

Shares in the company have slipped over 62% since the start of the year, underperforming the broader S&P Index, which has gained around 15% during the same period.