Dunkin’ Brands reported very solid Q3 Earnings yesterday. Its revenue beat estimates by $17M and GAAP EPS were $.13 above estimates. Dunkin’ did not announce any news of a merger with Roark/Inspire Brands, of which talks had been confirmed on Sunday. The Brand was very clear that it would not speak of the matter until there was a deal or talks had concluded. Management took no questions. As to the numbers, Dunkin’ US same store sales were positive .9% for the quarter and in the positive “mid-single-digit” range in October, marking months of sequential improvement. CFO Kate Jaspon resurrected her earlier 2020 franchisee profitability forecast – that on average, with PPP funding, franchisee cash flow would be 80% of prior year. She acknowledged that a group of units in center city Boston, New York City and other limited center city locations were still significantly challenged and advised that Dunkin’ had provided for $4 million in royalty relief. As expected, Dunkin closed units: the 425 Speedway kiosks, and another 41 underperforming stores across the US while 80 new units opened. The company continues to support its “quality over quantity” development dictum. CEO Dave Hoffmann reviewed the progress of the DD Blueprint to date, including progress to 21% of sales as digital with 800 Next Gen remodels. Dunkin’ Americas President Scott Murphy spoke to the success of the Charli LTO, the August Pumpkin/Spice LTO and the record-setting $2 Refreshers LTO. He also reported that new shops in the West outperformed other regions in SSS gain and he also mentioned that curbside was up to 1500 units and its sales trends outperformed controls by wide margins. All in all, this was a striking earnings call with evidence of positive momentum in several initiatives that have been underway.