Keurig Q3 Profit Tops Estimates; Guies Q4 EPS Below Consensus

(RTTNews) - Keurig Green Mountain, Inc. (GMCR) reported net income for the third quarter of $155.2 million or $094 per share, compared to $116.3 million or $0.76 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $163.2 million or $0.99 per share, compared to $124.7 million or $0.82 per share in the prior year quarter.

Net sales for the third quarter increased 6% to $1.02 billion from $967.1 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.88 per share on revenue of $1.05 billion for the third quarter. Analyst' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts net sales growth in the high single to low double digits year-over-year and adjusted earnings of $0.68 to $0.75 per share. Analysts currently expect the company to earn $0.86 per share on revenue growth of 10.60% for the fourth quarter.

The company reiterating its outlook for fiscal 2014 net sales growth in the high single digits, but raised its fiscal 2014 adjusted earnings outlook to a range of $3.71 to $3.78 per share from its prior outlook of $3.63 to $3.73 per share. Analysts currently expect the company to earn $3.78 per share on revenue growth of 7.80% for the fiscal year 2014.