Shares of Keurig Green Mountain plunged as much as 6% in after-hours trading, falling as low as $111.74 per share

Keurig Green Mountain released the earnings results from its first fiscal quarter after closing bell tonight, posting adjusted earnings of 88 cents per share on $1.39 billion in revenue, which is flat with the same quarter last year. Analysts had been expecting the coffee machine and K-cup maker to post earnings of 89 cents per share on $1.46 billion in revenue.

Keurig Green Mountain GMCR

Key metrics from Keurig Green Mountain’s earnings report

The company posted reported earnings of 81 cents per share, compared to 91 cents per share last year. Keurig Green Mountain has been dealing with fallout from the recall of 7.2 million brewing machines, which has taken a bite out of the company’s results.

Keurig Green Mountain reported a 9% increase in portion pack net sales year over year. The company sold 4.5 million Keurig brand brewing systems, including 4.3 million sold by the company itself and 0.2 million sold by licensed brewer partners. That doesn’t include consumer returns. The brewer and accessory segment saw an 18% decline in net sales due to a 12% decline in brewer sales volume.

Sales of other products fell 17% year over year, mainly because demand is still shifting to portion packs from the traditional coffee package format.

The company repurchased 586,000 of its shares for $81 million during the first fiscal quarter.

Keurig Green Mountain gives weak guidance

In tonight’s earnings report management also provided guidance for the current quarter. They expect adjusted earnings to be between $1 and $1.05 per share, coming up significantly short of the consensus estimate of $1.18 per share.

Keurig Green Mountain expects full year revenue to grow in the mid- to high-single digits. The company also revised its non-GAAP earnings per share growth to the mid-single digits due to a worse-than-expected negative impact from foreign exchange rates.

The coffee machine maker also said its Keurig cold system is still on track to launch this fall.