February 6, 2018 / 2:20 PM / 3 months ago

Dunkin' Brands profit, sales beat targets amid price war

LOS ANGELES, Feb 6 (Reuters) - Dunkin’ Brands Group Inc on Tuesday reported quarterly profit that topped analyst estimates as revenue came in stronger than expected amid a bitter fast-food price war.

The Canton, Massachusetts-based owner of the Dunkin’ Donuts and Baskin-Robbins brands said fourth-quarter net income more than tripled to $195.5 million, or $2.13 per share. Excluding the net tax benefit from the new U.S. tax law, it earned 64 cents per share in the latest quarter.

Total sales climbed 5.3 percent to $227.1 million.

Analysts, on average, had expected quarterly earnings of 63 cents per share on revenue of $220.6 million, according to Thomson Reuters I/B/E/S.

Same-store sales at U.S. Dunkin’ Donuts restaurants, which account for roughly 70 percent of overall company revenue, rose 0.8 percent, matching analysts’ estimate.

Analysts said that for the first time in almost three years, all four Dunkin’ Brands business segments reported same-store sales gains during the quarter. (Reporting by Lisa Baertlein in Los Angeles; Editing by Bernadette Baum)

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