Krispy Kreme, Inc. (NASDAQ:DNUT) Q1 2024 Earnings Call Transcript May 9, 2024

Krispy Kreme, Inc. misses on earnings expectations. Reported EPS is $-0.05059 EPS, expectations were $0.07. Krispy Kreme, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Thanks for standing by. My name is Audra, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Krispy Kreme First Quarter 2024 Earnings Call. I would now like to turn the call over to Alexandre Eldredge, Krispy Kreme Investor Relations. Please go ahead.

Alexandre Eldredge: Thank you. Good morning, everyone. Welcome to Krispy Kreme's first quarter 2024 earnings call. Thank you for joining us today. We will be referencing our earnings release and presentation during the call. These are available on our Investor Relations website at investors.krispykreme.com. Joining me on the call this morning are President and Chief Executive Officer, Josh Charlesworth; and Chief Financial Officer, Jeremiah Ashukian. After prepared remarks, there will be a question-and-answer session. Before we begin, I would like to remind you that this call contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities and Litigation Reform Act of 1995, including statements of expectations, future events, or future financial performance.

Forward-looking statements involve a number of inherent risks and uncertainties, and we caution investors that these risks could cause actual results to differ materially than those contained in any forward-looking statements. These factors and other risks and uncertainties are described in detail in the company's Form 10-K filed with the SEC for the year ended January 1, 2023, and in the other filings we make from time to time with the SEC. Forward-looking statements made today are only as of today. The company assumes no obligation to publicly update or revise any forward-looking statements except as may be required by law. Additionally, today's call will include certain non-GAAP financial measures. A reconciliation between non-GAAP financial measures and their closest comparable GAAP measure can be found in our first quarter 2024 earnings press release and Form 8-K filed today with SEC and is also available at our investors.krispykreme.com website.

Jeremiah will take us through our financial performance in a moment, but first here's Josh.

Josh Charlesworth: Good morning, everyone. Thank you for joining us. We had a strong first quarter. Our strategy of making fresh Krispy Kreme doughnuts more available around the world is working. Excitement for our fresh Krispy Kreme doughnuts has never been higher. This further is from our recently opened the Hot Light Theater in France, where Parisians lined up some waiting overnight for their first ever hot original based doughnut fresh off the line. I was able to join our team members in Paris who are doing a great job spreading the joy that is Krispy Kreme, not just to eat, but to share and give to others. I wish to thank all our hardworking Krispy Kremers who get it done every day in now 39 countries around the world. Let me summarize today's key messages.

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To continue reading the Q&A session, please click here.