Green Mountain Coffee Roasters Inc. Earnings: Beats Analysts’ Estimates

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) reported net income above Wall Street’s expectations for the first quarter. Green Mountain Coffee Roasters operates in the specialty coffee industry in the United States and internationally. It sells approximately 200 whole bean and ground coffee selections, cocoa, teas, and coffees.

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Green Mountain Coffee Roasters Earnings Cheat Sheet for the First Quarter

Results: Net income for Green Mountain Coffee Roasters Inc. rose to $104.4 million (66 cents per share) vs. $2.4 million (2 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose more than twofold to $1.16 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Green Mountain Coffee Roasters Inc. reported adjusted net income of 60 cents per share. By that measure, the company beat the mean estimate of 36 cents per share. It beat the average revenue estimate of $1.06 billion.

Quoting Management: “North American consumers continue to embrace the convenience, choice and consistent experience provided by the Keurig Single Cup Brewing system and, as evidenced by our strong holiday sales, are encouraging friends and family to do the same,” said Lawrence J. Blanford, GMCR’s president and CEO. “We believe our sales in the period were, in part, the result of our efforts to ensure strong in-stock positions on store shelves as well as due to growing awareness of the Keurig brand which was aided by our nationwide advertising and strong in-store merchandising.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 97.5%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of 47 cents versus a mean estimate of net income of 48 cents per share.

Looking Forward: Over the past ninety days, the average estimate for the second quarter has fallen from 80 cents per share to 74 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year is $2.57 per share, down from $2.63 ninety days ago.

Stock Performance: Shares of GMCR were up 0.5% from the previous close.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com