Krispy Kreme, Inc. (DNUT) · Nov 5, 2026 · Earnings

Krispy Kreme earnings beat as revenue guidance rises

Beat — Adj. EPS $0.06 vs ~$0.02 consensus; revenue $328.8M vs ~$311.4M

Krispy Kreme’s Q3 earnings beat expectations, with adjusted EPS above consensus and 2026 revenue guidance raised and narrowed.

Krispy Kreme is midway through a turnaround built around refranchising, lower capital spending, U.S. margin recovery, and a more capital-light international franchise model. The prior outlook called for 2026 revenue of $1.25 billion to $1.35 billion and Adjusted EBITDA of $140 million to $150 million.

The quarter beat the published bar, not just the prior year. Revenue reached $328.8 million versus a published consensus of roughly $311.4 million, while adjusted EPS was $0.06 versus roughly $0.02 expected. The filing says, “Adjusted net income was $9.9million, an improvement from Adjusted net income of $1.4million in the prior year third quarter, and Adjusted EPS was $0.06, compared with an Adjusted EPS of $0.01.”

	Q3 2026	Q3 2025	Consensus / prior guide
Net revenue (Financial Highlights)	$328.8M (+5.6%)	$375.3M	$311.4M
Adjusted EPS (Financial Highlights)	$0.06	$0.01	$0.02
Organic revenue growth (Financial Highlights)	-0.1%	0.6%
Adjusted EBITDA (Financial Highlights)	$35.3M (-13.1%)	$40.6M
Free cash flow, YTD (Cash Flow statement)	$(10.0)M	$(91.9)M	>$15M FY guide
Net leverage ratio (Net Debt and Leverage)	5.5x (-1.2x)		<5.5x FY guide

The headline revenue decline is mostly portfolio reshaping, while underlying growth is only modest. Reported revenue fell 12.4% because Japan and the western U.S. WKS joint venture were refranchised, but the comparable business was roughly flat: organic revenue declined just 0.1%, U.S. organic revenue rose 0.9%, and Market Development organic revenue rose 14.0%. The filing says, “Net revenue was $328.8million, a decline of 12.4% or $46.5million, due primarily to refranchising the western U.S. joint venture with WKS Restaurant Group (“WKS”) and the Japan refranchising.”

The more important improvement is operating quality and cash generation. Adjusted EBITDA was down against a prior-year quarter that included a $9.3 million cybersecurity insurance recovery, but excluding that unusual item EBITDA rose 12.7% and adjusted margin expanded from 8.3% to 10.7%. Year-to-date operating cash flow turned positive and free cash flow improved by $82 million, while net leverage fell to 5.5x from 6.7x at year-end. The filing says, “Year-to-date cash provided by operating activities of $18.7million increased $29.8million, and free cash flow of ($10) million improved $82million, when compared to the first three quarters of 2025.”

Management raised and narrowed the 2026 revenue outlook, adding confirmation that the turnaround is tracking ahead of the prior internal bar. That is the clearest incremental signal in the filing: the business is not producing broad organic growth yet, but refranchising, cost controls, lower capital intensity, and franchise expansion are improving the financial profile faster than the market expected. The filing also adds a Pakistan agreement for 120 shops over five years, but that is a longer-term development rather than a near-term earnings driver. 〔0〕

Bottom line: This is a meaningful turnaround-positive quarter: Krispy Kreme beat near-term expectations, improved cash generation and leverage, and raised revenue guidance. The core demand picture is still only roughly flat organically, so the progress is more about execution and financial repair than a return to broad-based growth.

What to watch next

Q4 earnings report and full-year 2026 results

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

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Krispy Kreme earnings beat as revenue guidance rises

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