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Keurig shares slip after profits, sales miss

A Keurig Green Mountain machine
Daniel Acker | Bloomberg | Getty Images

Keurig Green Mountain shares reeled after the company reported quarterly revenue that fell short of Wall Street expectations on disappointing holiday sales. The stock was down about 7 percent in extended trading on Wednesday.

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The producer of beverage makers and single-serve K-Cup coffee reported earnings of 88 cents a share, down from 96 cents a share in the year-earlier period. Revenue remained stagnant from the year-earlier period at $1.39 billion.

Analysts had expected Keurig to report earnings of 89 cents a share on $1.47 billion in revenue, according to a consensus estimate from Thomson Reuters.

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Keurig also updated its 2015 revenue growth outlook to mid-to-high single digits on "a greater negative impact from foreign exchange."

Net sales failed to meet the company's expectations. Keurig cited weaker-than-expected holiday sales, a voluntary recall on certain brewing machines and currency pressures from a strengthening dollar.

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Brewers and accessories took the biggest hit with an 18 percent sales decrease year over year, while drink portion pack sales rose 9 percent.