My favorite coffee stock, Green Mountain Coffee Roasters (GMCR), is up today after reporting strong earnings. As I expected, the coffee company easily exceed Wall Street’s expectations of 28 cents a share.
For the third quarter ended June 27, the company posted net income of $14.1 million, or 36 cents a share, compared with $6.3 million, or 16 a share, a year ago. Revenue rose 61 percent to $190.5 million.
Analysts on average were expecting earnings of 28 cents a share, before special items, on revenue of $191.1 million, according to Reuters Estimates.
Although the stock traded lower in the after-hours market yesterday, the shares are up today. Green Mountain Coffee continues to be an excellent buy.