Green Mountain Stock Perks Up After Earnings Beat
Green Mountain Coffee Roasters on Tuesday posted sharply higher earnings than analysts expected and its shares jumped in after-hours trading.
Following the earnings report, the company's shares rose more than 20 percent in extended-hours trading. (Click here to get real-time quotes for Green Mountain.)
With an additional selling week in the quarter to boost results, the maker of the Keurig one-cup coffee brewing system and the K-Cups that go with them said net income was $91.9 million, or 58 cents per share, in its fiscal fourth quarter, up from $75.4 million, or 47 cents per share, a year earlier.
Excluding items, the company reported earnings of 64 cents per share for the quarter, which ended on Sept. 29. On that basis, analysts on average were expecting 48 cents, according to Thomson Reuters.
Net sales rose to $946.7 million from $711.9 million a year earlier.