Krispy Kreme Inc. (NASDAQ: DNUT) shares soared more than 30% intra-day Thursday after the doughnut chain reported fourth-quarter results that surpassed Wall Street expectations on both earnings and revenue.
The company recorded net revenue of $392.4 million for the quarter, exceeding the LSEG-compiled analyst estimate of $386.7 million. Adjusted earnings per share were $0.09, outperforming expectations of $0.03.
Management attributed the performance to robust consumer demand for its signature fresh doughnuts. The quarter marked a significant top- and bottom-line beat.
The company currently has notable short interest, with approximately 12.8% of its free float sold short, reflecting bearish positioning by investors anticipating share price declines.
The stronger-than-expected results provided momentum for the stock, which had faced pressure from short sellers.
