On Thursday, Dunkin' Brands Group, Inc. (NASDAQ: DNKN), which is the parent company of Dunkin' Donuts and Baskin-Robbins, announced its quarterly financial results.
For the third quarter of 2017, revenue of the company increased from $207.1 million to $224.2 million, which beating analysts’ estimates of $215 million. The increase in revenue was motivated by higher sales at its Dunkin’ Donuts stores.
Net income for the third quarter was $52.2 million, or $0.57 per share, decreased from $52.7 million, or $0.57 per share, for the same period last year. Adjusted EPS was $0.61 per share, which was below estimates of $0.63 per share.
“This past quarter, we demonstrated real progress in the execution of our multi-year plan to transform Dunkin' Donuts U.S. into a beverage-led, on-the-go brand,” Nigel Travis, Dunkin' Brands Chairman and CEO, said in the statement on Thursday.
“Despite the impact on comparable store sales as a result of the storms, we are encouraged that our morning sales grew at a greater rate than our full-day sales, a direct result of our breakfast value offers and a.m. product innovation,” Nigel said.
“Our third quarter financial performance included approximately eight percent revenue growth and greater than 11 percent operating income growth, although the latter was offset by an increase in tax expense related to our recent debt refinancing deal that impacted net income,” Kate Jaspon, the Chief Financial Officer of Dunkin' Brands Group, Inc., said on Thursday.