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DNKN - Dunkin' Brands Misses on Earnings But Reinstates Dividend
Dunkin' Brands Group Inc.
While America didn't run away from Dunkin' Brands(NASDAQ: DNKN) during the pandemic, they weren't exactly fueling up on its coffee and donuts either.
Sales fell 20% in the second quarter to $287 million while profits got cut in half, tumbling to $36 million, or $0.44 per share, compared to $72 million, or $0.71 per share, last year. Even adjusting for non-recurring items only boosted it to $0.49 per share, which still missed expectations by a penny.
The donut shop did beat on the top line, though, and management announced it would restore the dividend it suspended back in April.