Keurig Green Mountain (GMCR) Tops Q3 EPS by 11c; Issues Light Q4 EPS Outlook

Keurig Green Mountain (NASDAQ: GMCR) reported Q3 EPS of $0.99, $0.11 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.05 billion.

“We are very pleased with our outstanding non-GAAP net income growth of 31%, which exceeded our long-term growth target. Our free cash flow performance also was strong at $127 million,” said Brian Kelley, Keurig’s President and CEO. “We delivered net sales of approximately $1 billion for the quarter, driven by 9 percent currency-neutral growth of our core single serve business.”

“Our solid year-over-year brewer shipment growth of 13% and our 15% unit growth in portion packs is indicative of the continued expansion of the Keurig system across the U.S. and Canada,” stated Kelley. “We also are excited about the imminent launch of our new Keurig 2.0 hot platform; the addition of formerly unlicensed and new brands to the Keurig hot beverage system during the quarter; and, our progress on the new Keurig Cold beverage system.”

Keurig Green Mountain sees FY2014 EPS of $3.71-$3.78, versus prior guidance of $3.63-$3.73 and the consensus of $3.78.

Keurig Green Mountain sees Q4 2014 EPS of $0.68-$0.75, versus the consensus of $0.86.

For earnings history and earnings-related data on Keurig Green Mountain (GMCR) click here.

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