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Dine Brands (DIN) Q2 Earnings Beat, Revenues Miss Estimates

Nice ongoing work from leadership at Dine

 

Dine Brands Global, Inc. DIN reported better-than-expected earnings for the sixth straight quarter in the second quarter of 2018. However, the company’s revenues fell short of the Zacks Consensus Estimate. Adjusted earnings were $1.03 per share, beating the consensus estimate of 94 cents. However, the bottom line decreased 20.8% from the prior-year quarter. The downturn is due to the company’s lower segmental profits, which were partially offset by increased comps, a decline in bad debt expenses and restaurant development at IHOP. Total revenues in the reported quarter were $184.5 million, up 18.9% on a year-over-year basis. However, the top-line figure lagged the consensus estimate of $186.2 million. Increase in revenues was attributable to growth in comparable sales across both brands. Brand Performances by Comps Applebee's domestic system-wide comps increased 5.7%. This compares favorably with the prior-year quarter’s decline of 6.2%. Moreover, in the first quarter, the company’s brand has witnessed gain of 3.3%. IHOP’s domestic system-wide comps were up 0.7%, comparing unfavorably with the first quarter’s growth of 1% but favorably with the prior-year quarter’s decrease of 1.7%. https://lnkd.in/edS99AK

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