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 story : Applebee's, IHOP parent Dine Brands tops profit, revenue expectations amid 'sustained' traffic and dine-in recovery #FinanceUSA #StockMarketNEWS Applebee's and IHOP restaurant chains parent Dine

@stockMarketNEWS Wed 10 Aug, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Applebee's, IHOP parent Dine Brands tops profit, revenue expectations amid 'sustained' traffic and dine-in recovery #FinanceUSA #StockMarketNEWS
Applebee's and IHOP restaurant chains parent Dine Brands Global Inc. reported second-quarter profit and revenue that topped expectations, citing "sustained off-premise traffic" and a continued recovery of dining in. Net income fell to .3 million, or .45 a share, from .7 million, or .69 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share fell to .65 from .94 but beat the FactSet consensus of .63. Total revenue grew 1.8% to 7.8 million, just above the FactSet consensus of 6.4 million. Domestic same-store sales for Applebee's rose 1.8%, topping the FactSet consensus of a 1.7% rise, and for IHOP increased 3.6% to miss expectations of 3.8% growth. Total cost of revenue rose more than revenue, up 5.5% to 2.1 million as gross profit as a percentage of revenue contracted to 40.2% from 42.3%. The restaurant chain operator's stock, which was still inactive in premarket trading, has gained 4.9% over the past three months while the S&P 500 has tacked on 3.7%.


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