Keurig Green Mountain Q3 Profit Down

(RTTNews) - Keurig Green Mountain, Inc. (GMCR) Wednesday reported third-quarter net income of $113.6 million or $0.73 per share, down from $155.2 million or $0.94 per share last year.

Adjusted earnings for the quarter were $0.80 per share, down from $0.99 per share last year.

Net sales for the quarter dropped 5 percent to $969.6 million from $1.02 billion last year.

Analysts polled by Thomson Reuters expected the company to earn $0.79 per share on revenues of $1.04 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.70 to $0.75 per share and sales growth decline of low-teens.

For the fiscal year 2015, the company expects adjusted earnings decline in the low teens and net sales decline of low-single to mid-single-digits.