EmailGreen Mtn Coffee (GMCR $22.54 +4.68) reported third quarter earnings of $0.52 per share, $0.03 better than the Capital IQ Consensus of $0.49; revenues rose 21.2% year/year to $869.2 mln vs the $873.48 mln consensus. Single server packs +31% y/y; Brewers & Accessories +32% y/y; Royalties -27% y/y. Green Mtn Coffee Announces Board Authorization of $500 Million Share Repurchase. In the third quarter of fiscal 2012, gross margin declined to 34.9% from 36.8% in the prior year period. The decline compared to the prior year period was due in part to under-utilization of the Company's manufacturing base as a result of lower than expected manufacturing through-put primarily due to lower K-Cup pack demand and lower-than-planned production levels. An increase in single-serve pack obsolescence also adversely impacted gross margin in the quarter.
The company issues downside guidance for Q4, sees EPS of $0.45-0.50, excluding non-recurring items, versus the $0.61 Capital IQ Consensus Estimate, with revenues of $889.9-925.5 million versus the $952.21 million consensus. The company issues downside guidance for fiscal year 2012 with EPS of $2.21-2.26, excluding non-recurring items, versus the $2.35 consensus and revenues of $3.79-3.84 billion versus the $3.87 billion consensus and sees a slightly negative cfree cash flow for FY12. The company issues downside guidance for FY13, sees EPS of $2.55-2.65, excluding non-recurring items, versus the $2.90 consensus. Free Cash FLow in the range of $100-125 million..
