NEW YORK (TheStreet) -- Shares of Keurig Green Mountain Inc (GMCR) are plummeting, down 11.82% to $97 in after-hours trading Wednesday, after the company reported its fiscal second-quarter earnings results.
For the quarter, the company earned $1.03 per share on revenue of $1.13 billion. Both figures missed analysts' expectations.
Keurig Green Mountain was expected to post earnings of $1.05 per share on revenue of $1.15 billion, according to analysts polled by Thomson Reuters.
For the current quarter ending in June, Keurig Green Mountain now expects earnings in a range of 75 cents per share to 80 cents per share.
The maker of K-Cup single-serve coffee pod also announced that Peter Leemputte will take over as its chief financial officer and treasurer staring on August 17, succeeding Fran Rathke.
Waterbury, VT-based Keurig Green Mountain is a specialty coffee and coffeemaker business that sells single cup brewers as well as traditional whole bean and ground coffee in other package types including bags, fractional packages and cans.
Separately, TheStreet Ratings team rates KEURIG GREEN MOUNTAIN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate KEURIG GREEN MOUNTAIN INC (GMCR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."