Shares of Green Mountain Coffee Roasters Inc., maker of Keurig brewers and single-serve pods, fell in late trading Wednesday after the company forecast fiscal second-quarter revenue that trailed analysts’ estimates.
An hour after the close of regular trading in New York, the shares were down 6.7 percent at $45.66. Shares of Waterbury, Vermont-based Green Mountain slid 7.8 percent last year.
Sales in the current quarter will rise 14 percent to 18 percent from the same period a year earlier, the company said today in a statement. That implies sales of $1.01 billion to $1.04 billion, trailing the $1.06 billion average of 13 analysts’ estimates compiled by Bloomberg.
Green Mountain, which last year began selling the Keurig Vue and Rivo brewers, is seeing more competition from Starbucks Corp., which recently introduced its own single-serve machine, the Verismo. Chief Executive Officer Brian Kelley, who took the helm in December, is seeking to draw customers with different single-serve items including antioxidant coffee and tea cups.
© Copyright 2014 Bloomberg News. All rights reserved.