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Robust Keurig Demand Drives 38% Profit Growth For Green Mountain

Posted On: 11/22/2013

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TAGS: Green Mountain Coffee Roasters GMCR fourth quarter, Keurig sales, K-Cup sales, Green Mountain's profit, Vending

WATERBURY, VT -- Green Mountain Coffee Roasters saw net income jump 35% and revenue climb 11% in the fourth quarter as sales of both Keurig brewer and K-Cup sales rose.

For the quarter ended Sept. 28, Green Mountain's profit grew to $127 million, or 83¢ a share, from $91.9 million, or 58¢ a share, a year earlier. Net sales grew 11% to $1.05 billion.

Sales of K-Cup single-cup packs climbed 11%, while brewer sales grew 27%.

"We had a strong end to an excellent year, driven by continued consumer passion for the Keurig brewing system," said Brian P. Kelley, Green Mountain's president and chief executive.

The Waterbury, VT, roaster also announced a $1 billion share buyback program and a $0.25 a share quarterly dividend.

Green Mountain issued current-quarter earnings guidance between 85¢ to 90¢ a share, with sales expected to rise in the low-to-mid single digits.