Dunkin (NASDAQ:DNKN) earnings for the coffee and donut chain’s third quarter of 2019 have DNKN stock soaring on Thursday. That’s thanks to its diluted adjusted EPS of 90 cents. This beats out Wall Street’s estimate of 81 cents for the period. Revenue of $355.90 million is below analysts’ estimates of $358.74 million, but that isn’t keeping DNKN stock down.
Let’s see what else went right in the most recent Dunkin earnings report.
- Diluted adjusted per-share earnings are up 8.40% from 83 cents in the third quarter of 2018.
- DNKN’s revenue for the quarter is up 1.70% YoY from $350.00 million.
- Operating income of $121.30 million is 8.70% better than $11.60 million in Q3 2018.
- Net income for the current Dunkin earnings report is $72.40 million.
- That’s a 9.50% improvement over net income of $66.10 million in the same period of the year prior.
David Hoffmann, Dunkin CEO and President of Dunkin U.S., says this about the DNKN stock earnings.
“We delivered a strong third quarter with positive comparable store sales growth across all four of our business segments, including Baskin-Robbins best quarterly sales results in the U.S. since the fourth quarter of 2017. Dunkin’ U.S. performance was led by strength in premium beverages such as espresso and cold brew, along with sales of breakfast sandwiches driven by the success of our national Go2s value platform.”
The Dunkin earnings report also includes an update to its 2019 guidance. The company now expects diluted adjusted earnings per share to range from $3.10 to $3.12 for the year. The previous guidance was between $3.02 and $3.05. That’s great news for DNKN stock as Wall Street is looking for $3.05 for the period.
DNKN stock was up 5.49% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.