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Krispy Kreme (DNUT) investor relations material
Krispy Kreme Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Turnaround advanced through refranchising, lower capital intensity, logistics outsourcing and debt reduction; FY26 revenue guidance increased.
Q3 systemwide sales rose 1.0% to $490.2M in constant currency; organic revenue declined 0.1%.
Adjusted EBITDA margin expanded 240 bps YoY excluding the prior-year $9.3M cyber insurance recovery.
Financial highlights
Q3 net revenue was $328.8M, down 12.4% YoY, mainly due to $53.8M of refranchising impact; organic revenue declined 0.1%.
Q3 Adjusted EBITDA was $35.3M, down 13.1% reported; it rose 12.7% excluding the prior-year cyber recovery.
Q3 net loss narrowed to $13.3M from $20.1M; Adjusted net income was $9.9M versus $1.4M and Adjusted EPS was $0.06 versus $0.01.
9M Adjusted EBITDA rose 14.7% to $97.2M; free cash flow improved $82M YoY to $(10.0)M.
Outlook and guidance
FY26 net revenue guidance raised and narrowed to $1.35B–$1.40B from $1.25B–$1.35B; systemwide sales growth outlook remains 2%–4% in constant currency.
FY26 Adjusted EBITDA guidance is $140M–$150M; this is $25M–$35M above FY25 excluding its $14.1M cyber recovery and estimated refranchised-operation contribution.
FY26 CapEx guidance reduced to $40M–$45M from $50M–$60M; free cash flow is expected above $15M and net leverage below 5.5x.
Plan calls for at least 100 shop openings in 2026, nearly all franchised.
- Adjusted EBITDA up 43%, net loss narrowed, and 2026 guidance reaffirmed.DNUT
Q2 2026 - Board supports all proposals except the move to simple majority voting, which it opposes.DNUT
Proxy filing - Adjusted EBITDA up 38% and free cash flow positive as margin expansion drives turnaround.DNUT
Q1 2026 - Shareholders will vote on directors, compensation, auditor, and incentive plan at the June 2026 meeting.DNUT
Proxy filing - Proxy details turnaround progress, leadership changes, and key votes including a contested governance proposal.DNUT
Proxy filing - Adjusted EBITDA and margins improved in Q4 2025 amid strategic closures and turnaround progress.DNUT
Q4 2025 - Turnaround plan targets growth, margin gains, and $65M from Japan sale for debt paydown.DNUT
28th Annual ICR Conference 2026 - Q2 organic revenue up 7.8%, Adjusted EBITDA up 12.1%, and U.S. expansion accelerates.DNUT
Q2 2024 - Q1 2025 revenue and profit declined sharply as expansion continued and macro headwinds persisted.DNUT
Q1 2025
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