CANTON, Mass. – Dunkin’ Brands Group Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, reported a $52.2 million net income for the 2017 third quarter last week in a filing to the Securities Exchange Commission.
Diluted earnings per share were 57 cents for the quarter, level with diluted earnings per share from the 2016 third quarter.
Income for the third quarter declined $500,000 year over year, however, Dunkin’ Brand’s revenue increased $17.1 million year over year to $224.2 million for the three months ended on Sept. 30.
The company’s Dunkin’ Donuts U.S. segment reported a $129.7 million profit for the quarter, an increase of $10.3 million year over year. Sales in the U.S. segment increased 0.6 percent year over year to $2.2 billion.
The company’s Dunkin’ Donuts International segment reported a 104.1 percent profit growth year over year to $1.4 million, an upswing of $735,000. International sales increased 1.3 percent year over year for the quarter to $189.3 million. The company said this was attributable to a decrease in general and administrative expenses as well as an increase in revenue, which totaled $5.2 million. Revenue growth of $708,000 year over year was primarily driven by franchise fees and increased royalty income.
Baskin-Robbins operations in the U.S. reported a 5.6 percent profit decline year over year to $10.5 million in the third quarter. International Baskin-Robbins profit increased 2.4 percent to $11.4 million. U.S. Baskin-Robbins sales declined $1.2 million year over year to $177 million while international sales declined $7.8 million year over year to $382.2 million.
“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. 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,” said Nigel Travis, Dunkin’ Brands chairman and CEO.
Chris Bergenheim is the PBN web editor.
