Dunkin' Brands (DNKN) Tops Q1 EPS by 5c, Offers Guidance

Dunkin' Brands (NASDAQ: DNKN) reported Q1 EPS of $0.67, $0.05 better than the analyst estimate of $0.62. Revenue for the quarter came in at $319.1 million versus the consensus estimate of $312.45 million.

GUIDANCE:

Dunkin' Brands sees FY2019 EPS of $2.94-$2.99, versus the consensus of $2.97.

• The Company continues to expect low-single digit comparable store sales growth for Dunkin' U.S. and Baskin-Robbins U.S.
• The Company continues to expect to be at the low end of the range of 200 to 250 net new Dunkin' U.S. units. It expects new Dunkin' U.S. restaurants opened in 2019 will contribute at least $130 million in systemwide sales in 2019.
• The Company continues to expect Baskin-Robbins U.S. franchisees to close approximately ten net units.
• The Company continues to expect low-to-mid single digit percent revenue growth.
• The Company continues to expect low-to-mid single digit percent other revenue growth driven by consumer packaged goods.
• The Company continues to expect ice cream margin dollars to be flat compared to 2018 from a profit dollar standpoint.
• The Company continues to expect net income of equity method investments (JV net income) to be flat compared to 2018.
• The Company continues to expect a mid-single digit percent reduction to general and administrative expenses.
• The Company continues to expect mid-to-high single digit percent operating and adjusted operating income growth.
• The Company continues to expect its full-year effective tax rate to be approximately 28% and net interest expense to be approximately $122 million. The tax guidance excludes any potential future impact from material excess tax benefits in 2019.
• The Company continues to expect full-year weighted-average shares outstanding of approximately 84 million.
• The Company now expects GAAP diluted earnings per share of $2.63 to $2.72 (previously $2.74 to $2.83) and continues to expect diluted adjusted earnings per share of $2.94 to $2.99.
• The Company continues to expect capital expenditures to be approximately $40 million.

For earnings history and earnings-related data on Dunkin' Brands (DNKN) click here.

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