The company earned $1.03 a share, a 5% year-over-year decline, on revenue of $1.13 billion, a 2% increase. This came up short of the expectations of $1.05 a share on revenue of $1.15 billion from analysts polled by Thomson Reuters.
CEO Brian Kelley said the revenue miss was "primarily due to the slower than expected transition to the Keurig 2.0 system."
For the third quarter ending in June, Keurig Green Mountain reduced its guidance and now expects earnings in a range of 75 cents to 80 cents a share.
Furthermore, the maker of the K-Cup single-serve coffee pod announced that Peter Leemputte would become chief financial officer and treasurer staring on August 17, succeeding Fran Rathke.
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."
You can view the full analysis from the report here: GMCR Ratings Report