Green Mountain said it earned $24.7 million, or 54 cents per share, for the quarter. That's up from $13 million, or 33 cents per share, in the same quarter of the prior year. Excluding the costs tied to its pending acquisition of Diedrich Coffee and other items, the company earned 60 cents per share.
Revenue grew 68 percent to $324.9 million. The company said the bulk of its sales growth came from its Keurig Brewing System and the associated Keurig single-cup portion packs, which has been a booming business in recent quarters.
Analysts polled by Thomson Reuters had expected the company to earn 60 cents per share on revenue of $322.4 million.
Based on the success of the Keurig business, the company reiterated that it expects to earn $1.95 to $2.05 per share for the year. Green Mountain is planning a 3-for-1 stock split on May 17, so on a split-adjusted basis, the company would earn 68 cents to 71 cents per share before one-time items.
However, investors were hoping for more. The company's forecast for third-quarter earnings of 50 cents to 54 cents per share pre-split -- fell below analysts' current average forecast of 57 cents per share. The midpoint of the full-year forecast also falls 4 cents below the $2.04 consensus estimate.
Shares of Green Mountain rose $1.99 to close at $86.91 but fell $12.94, or 15 percent, to $73.81 in after-hours trading.
