Dine Brands Sales Rise as IHOP Growth Offsets Applebee's Decline

Dow Jones
08/05
 

Dine Brands recorded higher sales and lower profit in the second quarter, as IHOP's growth helped offset a decline at Applebee's.

The company behind Applebee's and IHOP on Wednesday posted a profit of $4.3 million, or 35 cents a share, compared with $13.8 million, or 89 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.16, below the $1.20 anticipated by analysts, according to FactSet.

Revenue rose 4% to $240.9 million. Analysts surveyed by FactSet forecast revenue of $237.3 million. Sales growth was driven by higher company-owned restaurant sales.

Domestic same-store sales fell 1.8% at Applebee's and rose 1.5% at IHOP. Analysts were projecting a 2.2% decline and 0.5% increase, respectively.

Customers are remaining focused on affordability and value, Chief Executive John Peyton said.

Dine Brands maintained its full-year guidance.

 
 

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