Green Mountain Coffee Roasters Inc. (GMCR) Earnings Beat Expectations

Green Mountain Coffee Roasters Inc. (GMCR) Earnings Beat Expectations

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) came out ahead of earnings expectations this afternoon, but shares initially started to fall right after the results were announced. They then recovered and gained about 1% in after-hours trading.

The company’s earnings per share were reported to be 89 cents excluding items. That’s compared to consensus estimates of 75 cents per share. Revenue was reported to be $1 billion, compared to estimates of $965 million.

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Breaking down Green Mountain Coffee’s numbers

The company reported full fiscal year 2013 revenue of $4.4 billion, a 16% increase year over year. The company’s free cash flow was $603 million, and its full-year GAAP earnings per share were $3.16 per share. Non-GAAP earnings per share for the full year were $3.39 per share, a 45% year over year increase.

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) noted that their fiscal 2013 year had 53 weeks instead of 52 weeks and provided a breakdown comparison. That extra week added about $90 million in revenue and 7 cents per share in earnings. Without the benefit of that week, the company would have missed on revenue, although it still would have beat on earnings per share.

Green Mountain Coffee’s segments


The company reported that about 92% of its consolidated net sales were related to its Keurig brewers or K-cups. The rest of the net sales came from bagged coffee, fractional packs and their Canadian office coffee services business.

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) reported a 21% year over year increase in revenue from portion packs. It sold 10.6 million Keurig brewers during the entire 2013 fiscal year.

Green Mountain Coffee announces capital return plan

The coffee maker also announced that its board approved $1 billion in new share buyback authorization. This new program starts after the company finishes its current program, which still has $138 million of authorized share buybacks on it.

The board also approved a $1 per share annual dividend, with 25 cents being paid every quarter. It also declared a quarterly cash dividend of 25 cents per share.


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