On its third-quarter 2026 earnings call, held on Nov. 5, 2026, Krispy Kreme (NASDAQ:DNUT) now expects full-year revenue between $1.35 billion and $1.4 billion, up from a prior range of $1.25 billion and $1.35 billion. Operational efficiency improved across its network. Net revenue fell 12.4% to $328.8 million, mostly due to refranchising, and the company posted a net loss of $13.3 million. The company is shifting toward a capital-light business model by selling company-run markets, such as Japan and the western U.S., to franchise partners and cutting capital expenditures, which are funds used to purchase or upgrade physical assets. That strategy aims to reduce debt and deliver positive free cash flow exceeding $15 million in 2026. Three things management said stand out.
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