Green Mountain Coffee fell short of expectations in the fourth quarter, and its share price tumbled 36%.
Shares of Green Mountain Coffee Roasters (GMCR) fell 36% in early trading on Thursday as fourth-quarter revenue fell short of wall street analysts' expectations.
Green Mountain Coffee today released its fourth quarter results. Sales of green mountain coffee in the fourth quarter were $712 million, up 91% from the same period last year, but less than analysts had expected, according to the report. Analysts on average expect sales of Green Mountain Coffee to be $760.5 million in the fourth quarter, according to FactSet Research, a market research firm. Green Mountain Coffee's fourth-quarter net income was $75.4 million, nearly tripling from $2700 a year earlier, and earnings per share were 47 cents, up from 20 cents a share in the same period last year.
In the latest trading in New York today, Green Mountain Coffee fell $24.04, or 36%, to $42.98. Green mountain's shares have fallen 54% in the past month after hedge fund manager David Einhorn criticized the company's transparency and accounting policies at a hedge fund conference last month. But in the past 12 months, Green Mountain Coffee is still up 27%.
Green Mountain Coffee is headquartered in Waterbury, Vermont, USA, and its main products include Keurig single cup coffee maker and so on.
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