Green Mountain Coffee Roasters Reports 3Q EPS of 76 US cents

Green Mountain Coffee Roasters (GMCR) has raised its fiscal year 2013 earnings outlook to reflect growth of 37 – 39 per cent over prior year The company’s revenue has increased by 11 per cent over the same period last year, with US revenue up by 14 per cent. “We continue to drive leverage in our business and were very pleased to deliver earnings per share growth in the quarter that exceeded our revenue growth by more than five-fold,” said GMCR’s President and CEO, Brian P. Kelley, in a statement. “Free cash flow generation was also strong, bringing our fiscal year-to-date total to US$582 million.” “Our total revenue growth of 11 per cent was at the low end of our expectations, driven primarily by a sales decline in Canada,” said Kelley. “Ongoing consumer adoption and continued use of installed Keurig brewers drove 21 per cent unit growth of our Keurig Brewed portion pack business during our third fiscal quarter.” GMCR also announced that Robert P. Ostryniec becomes its Chief Product Supply Officer as of August 26, 2013, reporting to President and CEO, Brian P. Kelley. Ostryniec joins GMCR from H.J. Heinz Company, where he had served as Senior Vice President, Global Chief Supply Chain Officer and Quality & Chief Risk Officer since February 2010. As GMCR’s Chief Product Supply Officer, a newly created position, he will be responsible for global product supply including logistics, procurement and responsible sourcing, as well as the efficiency, quality, safety and environmental management of the Company’s manufacturing processes. “Bob brings deep supply chain, manufacturing and customer service experience and I’m pleased to welcome him to the GMCR team,” said Kelley. “Under Bob’s leadership, we will work to drive ongoing efficiencies as we continue to grow the more than 35 great brands in the GMCR family.”