Fast food restaurant chain Krystal, which has seen its stock rise by nearly 60% in the last two years, is predicting a strong showing for the Fourth of July on Thursday with its predictions for the top 10 fast food chains.
The chain, which operates a dozen franchises in the United States, is targeting an all-time high for sales on the Fourth as the holiday draws to a close.
It is expecting to post a $2.3 billion profit for the holiday.
Krystal, a chain based in Houston, Texas, said it expects to post sales of $1.3 trillion for the holidays and $2 trillion in annual sales.
The company has been gaining market share in the fast food industry as more people eat out at restaurants and bars.
The chain is projected to post an annual profit of $10 billion, according to its forecasts.
Krysstal said that it is also planning to post the largest revenue increase for the company since it started operations in 1999.
The fast food chain is expected to earn $5 billion in sales for the fourth quarter of 2017, up from $4.7 billion the year before.KRYSTAUL: Fast food chain that sells food to fast food restaurants, restaurants like McDonalds, and more, is going to be up this year and that’s really going to help the company’s future earnings growth, CEO of Krystal Inc. Chris Dore told CNNMoney on Wednesday.
Kysstal is a company that sells fast food and other food items to restaurant chains like McDonald’s, Burger King, Pizza Hut, Domino’s Pizza, Panera Bread and Taco Bell.
It also operates restaurants that cater to fast-food customers.
The company’s forecast for the 4th of July comes on the heels of the company announcing that it has raised $1 billion in Series A funding.
The funding is a direct response to a number of challenges Krystal is facing in its effort to expand its presence in the U.S. fast food market.