After yesterday’s close, Green Mountain Coffee Roasters (GMCR) released a phenomenal earnings report. Profits more than doubled to 50 cents a share from 23 cents a share one year ago.
Get ready for the shares to soar today.
I’m really impressed by GMCR’s quarter. Sales rose 60% to $193.4 million. The consensus on Wall Street was for earnings of 36 cents a share on sales of $178.1 million. This means Green Mountain had a 38% earnings surprise and an 8% sales surprise.
The company also raised its full-year EPS guidance from a range of $1.25 to $1.35 to a range of $1.47 to $1.53.
Green Mountain also inked a deal with Wal-Mart (WMT) to distribute its single-cup coffee brewers in more than 3,000 of the discount retailer’s stores.