Green Mountain Coffee Roasters Q3 Profit Rises, Lifts FY13 Forecast

(RTTNews) - Green Mountain Coffee Roasters, Inc. (GMCR) Wednesday reported third-quarter profit of $116.3 million or $0.76 per share, up from $73.3 million or $0.46 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $124.7 million or $0.82 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.77 per share for the quarter. Analysts' estimates typically exclude special items. Sales improved 11 percent to $967.1 million from $869.2 million last year. Analysts expected revenues of $981.10 million.

Looking ahead to the fourth quarter, the company has forecast adjusted earnings in the range of $0.69 to $0.74 per share. Analysts currently expect fourth-quarter earnings of $0.72 per share.

For the fiscal 2013, the company currently projects adjusted earnings in a range of $3.19 to $3.24, up from its previous guidance range of $3.05 to $3.15 per share. Full-year sales growth is expected to range between 13 percent and 14 percent. Analysts currently expect the company to report full-year earnings of $3.18 per share.