Shares of Dunkin' Brands fell more than 3 percent on Tuesday despite the company posting fourth-quarter earnings that were better than analyst expectations.
The company, which owns Dunkin' Donuts and Baskin-Robbins, said net income rose to $195.5 million, or $2.13 per share, from $56.1 million, or 61 cents per share, a year ago.
Excluding a tax benefit of $142.4 million and other items, the company earned 64 cents per share, a penny better than analysts were expecting, according to Thomson Reuters.
Revenue in the latest period increased 5.3 percent to $227.1 million, larger than the $220.6 million Wall Street had expected.
- Adjusted EPS: 64 cents ex. items vs. 63 cents expected according to Thomson Reuters
- Revenue: $227.1 million vs. $220.6 million projected, according to Thomson Reuters
- U.S. same-store sales for Dunkin' Donuts restaurants: Up 0.8 percent vs. 0.9 percent growth projected, according to StreetAccount
The company said sales growth at Dunkin' Donuts restaurants was fueled by breakfast sandwich, iced coffee and Frozen Dunkin' Coffee and doughnut sales.
Baskin-Robbins chains saw same-store sales rise 5.1 percent, a greater leap than Wall Street's expected 0.2 percent. The company said this growth was bolstered by higher checks and beverages such as shakes and smoothies.