Green Mountain Coffee (GMCR) Unable to Meet Lofty Q4 Expectation as Customers Shift Orders
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Shares of single serve coffee phenom Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) are under massive pressure after-hours Wednesday as the company reported a rare fourth-quarter miss.
The company famous for its Keurig coffee brewer and K-Cup refills said fourth-quarter net sales rose 91 percent to $711.9 million. While impressive, this fell short of the Wall Street consensus of $760.5 million.
Revenues were below the company's estimates due to changes in wholesale customer ordering patterns in our grocery and club channels, the company noted.
Green Mountain reported non-GAAP EPS of $0.47, up 96 percent from last year but just shy of the Wall Street consensus of $0.48.
In the first quarter, Green Mountain Coffee sees net sales growth of 85 to 90 percent. The company sees non-GAAP earnings per share of $0.35 to $0.40, versus the consensus of $0.35.
The company reiterated fiscal year 2012 non-GAAP earnings per diluted share in a range of $2.55 to $2.65. This compare to the consensus of $2.62. Green Mountain sees total consolidated net sales growth of 60 to 65 percent.
Shares of Green Mountain last traded at $49.52, down nearly 26 percent from the close.
The company famous for its Keurig coffee brewer and K-Cup refills said fourth-quarter net sales rose 91 percent to $711.9 million. While impressive, this fell short of the Wall Street consensus of $760.5 million.
Revenues were below the company's estimates due to changes in wholesale customer ordering patterns in our grocery and club channels, the company noted.
Green Mountain reported non-GAAP EPS of $0.47, up 96 percent from last year but just shy of the Wall Street consensus of $0.48.
In the first quarter, Green Mountain Coffee sees net sales growth of 85 to 90 percent. The company sees non-GAAP earnings per share of $0.35 to $0.40, versus the consensus of $0.35.
The company reiterated fiscal year 2012 non-GAAP earnings per diluted share in a range of $2.55 to $2.65. This compare to the consensus of $2.62. Green Mountain sees total consolidated net sales growth of 60 to 65 percent.
Shares of Green Mountain last traded at $49.52, down nearly 26 percent from the close.
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