Dunkin' 1Q revenue misses Street; key US sales metric flat

Markets Associated Press

Dunkin' Brands' first-quarter revenue missed Wall Street's view as fewer customers at its doughnut and ice cream shops left a key U.S. sales metric flat.

Continue Reading Below

Shares fell in Thursday premarket trading.

Revenue for the owner of the Dunkin' Donuts and Baskin-Robbins chains rose to $190.7 million from $189.8 million, below the $192.2 million in revenue that analysts polled by Zacks expected.

Sales at Dunkin' Donuts stores in the U.S. open at least a year were flat during the quarter. At Baskin-Robbins locations, that figure fell 2.4 percent.

Dunkin' Brands Group Inc.'s stock declined 86 cents to $55.50 before the market open.

For the three months ended April 1, Dunkin' Brands earned $47.5 million, or 51 cents per share. A year earlier the Canton, Massachusetts-based company earned $37.2 million, or 40 cents per share.

Continue Reading Below

Earnings, adjusted for one-time gains and costs, came to 54 cents per share. That topped the 48 cents per share that analysts surveyed by Zacks Investment Research predicted.

Dunkin' Brands raised its full-year adjusted earnings forecast to a range of $2.40 to $2.43 per share. Its prior outlook was for $2.34 to $2.37 per share. The company said that the new guidance reflects a new accounting standard for stock-based compensation.

Analysts surveyed by FactSet are looking for earnings of $2.38 per share.

_____

Elements of this story were generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DNKN at https://www.zacks.com/ap/DNKN

_____

Keywords: Dunkin' Brands, Earnings Report