UPDATE: Dunkin' Brands (DNKN) Beats Q4 EPS by 2c; Adds $200M to Buyback Plan

(Updated - February 4, 2016 8:26 AM EST)

(Update corrects Q4 EPS)

Dunkin' Brands (NASDAQ: DNKN) reported Q4 EPS of $0.52, $0.02 better than the analyst estimate of $0.50. Revenue for the quarter came in at $203.8 million versus the consensus estimate of $203.31 million.

• Dunkin' Donuts U.S. comparable store sales decline of 0.8%
• Baskin-Robbins U.S. comparable store sales growth of 4.4%

The Company announced today that its Board of Directors increased the availability under the existing share buyback program to $200 million of the Company's outstanding common stock. The authorization is valid until February 2018.

FISCAL YEAR 2016 TARGETSAs described below, the Company is providing the following targets regarding its 2016 performance:

• The Company expects Dunkin' Donuts U.S. comparable store sales growth of 0 to 2 percent and Baskin-Robbins U.S. comparable store sales growth of 1 to 3 percent.
• The Company expects that Dunkin' Donuts U.S. will add between 430 and 460 net new restaurants, for greater than 5 percent net unit growth, and expects Baskin-Robbins U.S. will add between 5 and 10 net new restaurants. The Dunkin' Donuts U.S. net development target excludes the previously-announced closing of self-serve coffee stations within Speedway locations. The Company expects approximately 30 of these self-serve coffee stations to close in 2016.
• Internationally, the Company targets opening approximately 200 net new restaurants across the two brands. It expects net income of equity method investments to be slightly less than 2015 full-year results.
• The Company expects revenue growth of between 4 and 6 percent; adjusted operating income growth of between 8 and 10 percent; and adjusted earnings per share of $2.17 to $2.19. Fiscal year 2015 is a 53-week year for the Company. The target ranges for revenue and adjusted operating income growth are applicable on both a 52- and 53-week basis. The adjusted earnings per share range is on a 52-week basis and assumes 94,000,000 shares outstanding and a 38.5 percent tax rate. The impact of the 53rd week on adjusted earnings per share is approximately $0.03.

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

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