Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Green Mountain Falls After Quarterly Brewer Sales Decline

Green Mountain Coffee Roasters Inc., maker of Keurig single-serve pods and machines, fell in New York after reporting declining coffee brewer sales in its fiscal third quarter.

The shares dropped 3.5 percent to $76.48 at the close. Green Mountain, based in Waterbury, Vermont, has gained 85 percent this year, while the Standard & Poor’s Midcap 400 Index has advanced 21 percent.

Brewer and accessory sales dropped 4.3 percent to $133.1 million in the three months ended June 29, Green Mountain said in a statement yesterday. Sales growth of single-serve packs slowed to 18 percent in the quarter from 21 percent in the prior three months.

Chief Executive Officer Brian Kelley has been trying to lure Americans with higher-end coffee brewers and new varieties of K-Cups as competitors introduce less expensive single-cup pods. Green Mountain, which has seen its sales growth slow this year, announced in July an agreement with Cinnabon to make cinnamon-roll flavored coffee cups for Keurig machines.

Net income rose 59 percent to $116.3 million, or 76 cents a share, from $73.3 million, or 46 cents, a year earlier, Green Mountain said. Excluding certain items, profit was 82 cents a share. Analysts projected 76 cents, the average of 12 estimates compiled by Bloomberg.

“Our total revenue growth of 11 percent was at the low end of our expectations, driven primarily by a sales decline in Canada,” Kelley said in the statement. “Importantly, our U.S. business is very healthy.”

The company forecast adjusted earnings of 69 cents to 74 cents a share in the fourth quarter. It projected an increase in sales of 11 percent to 15 percent, which would give a range of $1.05 billion to $1.09 billion, according to data compiled by Bloomberg. Analysts on average projected 71.5 cents on revenue of $1.02 billion.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.