Krispy Kreme Inc. delivered earnings that hovered around analyst forecasts, posting $33.1 million in adjusted EBITDA versus the consensus of $30.6 million. The Charlotte‑based chain reported a net loss of $22.8 million, a marked improvement from last year’s $33.3 million loss, yet still higher than the expected $10.8 million loss.

The company has sharpened its 2026 debt‑reduction target, now aiming for a net leverage ratio below 5.5 times while generating positive cash flow. Refranchising efforts, including the sale of its Japan unit and a reduced stake in its Western U.S. joint venture, have cut debt and boosted profitability. Krispy Kreme plans to add 100 new outlets, mostly franchised, and expand into three to four additional international markets.

Revenue guidance for 2026 sits at $1.25‑$1.35 billion, shy of the $1.46 billion Wall Street expects, as the company notes recent asset sales are not fully reflected in estimates. Growth will come from third‑party retailers like Walmart and Target, delivery platforms, and its mobile app, with a focus on smaller portion offerings to counterweight health‑driven consumer shifts.

Investor focus turns to how effectively the company can trim debt while sustaining expansion, as its new leverage goal signals a tighter balance sheet and a clearer path to profitability.