Keurig Green Mountain, Inc. Third-Quarter Earnings: Shares Sinking After-Hours - Stocks in the News
Keurig Green Mountain, Inc. ( GMCR ) is the Waterbury, VT based coffee company that produces and sells the extremely popular single-serve coffee makers, as well as a variety of K-Cup brands to use in their machines.
Currently, Keurig Green Mountain has a Zacks Rank #4 (Sell), which is subject to change following the release of the company's latest earnings report. We have highlighted some of the key statistics from this just announced report below:
Earnings: Keurig Green Mountain just beat out our consensus EPS predication of $0.79 for the quarter, listing a $.80 EPS for Q3.
Revenues: Keurig Green Mountain's revenues missed out our consensus estimate. The company posted $969.6 million in revenues, compared to our $1.051 billion estimate.
Key Statistic to Note: For the quarter, 1.36 million Keurig coffee machines were sold, including 1.3 million sold by Keurig and 0.05 million reported sold by Keurig's licensed brewer partners. These sales result in a 26% decline in Keurig's brewer and accessory net sales compared to the prior year period, which, according to the company, is "due to a 18% decline in brewer sales volume, driven by high levels of inventory at retail and timing of restocking the MINI Plus brewer."
Stock Price: Keurig Green Mountain opened today at $76.96 per share and closed on the day at $74.98. After hours trading has been down as well, plummeting down over 26%.
Check back for our full analysis on this Keurig Green Mountain's earning report later!