Applebee's owner Dine Brands beats Q3 sales estimates on value, menu innovation
DIN•Dine Brands' third-quarter revenue rose to $248.9 million, beating the $239.71 million analyst estimate. Adjusted EPS increased year over year to $0.82, and the company repurchased $6.5 million in stock.
1. Quarterly results
Dine Brands reported third-quarter revenue of $248.9 million, above the $239.71 million consensus estimate. Adjusted EPS increased year over year to $0.82; reported EPS was $0.37, and adjusted EBITDA was $49 million.
2. Sales drivers
The company said revenue growth was primarily driven by higher revenue from company-owned restaurants, including acquisitions and openings since the year-earlier quarter. Its CEO attributed positive growth at Applebee's and IHOP to everyday value, menu innovation, culturally relevant marketing and sharper operational execution.
3. Capital and outlook
Dine Brands repurchased $6.5 million in stock during the quarter and invested in expanding its dual-brand program and accelerating its remodel pipeline. It did not provide specific financial guidance for the current quarter or full year.
