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Krispy Kreme Stock Surges After McDonald's Deal
Krispy Kreme (NASDAQ:DNUT) is a Charlotte-based company that produces doughnuts in the United States, the United Kingdom, Ireland, Australia, Canada, Japan, and elsewhere around the world. Shares of Krispy Kreme had jumped 27% week-over-week as of late afternoon trading on Wednesday, March 27. That pushed the stock into the black in the year-to-date period. Krispy Kreme received a significant bump following a landmark deal with a fast-food giant.
McDonald's recently agreed to bring Krispy Kreme doughnuts to the chain's restaurants across the United States. The fast-food giant has made a concerted push to draw more customers for breakfast and all-day snacking. Krispy Kreme's pastries will become available at some McDonald's locations later this year. A nationwide rollout is expected by the end of 2026. The addition of Krispy Kreme to the McDonald's menu gives the fast-food chain“a chance to unlock new business opportunities in the breakfast category and throughout the day,” said Tariq Hassan, chief marketing officer for McDonald's USA.
The well-known doughnut company released its fourth quarter (Q4) and full year fiscal 2023 earnings back on February 13, 2024. In Q4 2023, Krispy Kreme delivered net revenue growth of 11% year-over-year to $450 million. Meanwhile, adjusted EBITDA grew 14% to $64.1 million. For the full year, the company achieved net revenue growth of 10% to $1.68 billion while adjusted EBITDA increased 11% from the previous year to $211 million.
Krispy Kreme continues to be well-positioned for strong revenue growth going forward. This deal promises to be mutually beneficial, potentially serving as a brand booster for both entities.
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