By Daniella Parra
Krispy Kreme, Inc. (Nasdaq: DNUT) said adjusted EBITDA rose 38 percent in the first quarter to $33.1 million from a year earlier amid a company turnaround.
Net revenue fell 2.2 percent to $367 million, it said, adding that the company is seeing wider adoption of its capital-light international franchise model.
“The first quarter highlighted significant progress across every pillar of our turnaround plan,” said Krispy Kreme CEO Josh Charlesworth. “We reduced net leverage, increased adjusted EBITDA margin by 260 basis points, and delivered positive free cash flow.”
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