Dine Brands 3Q Sales Slide While Costs Come Down

Dow Jones11-06

By Dean Seal

Dine Brands Global logged lower revenue but a slightly higher profit in the third quarter as costs came down.

The owner of the Applebee's and IHOP restaurant chains posted a profit of $18.5 million, or $1.24 a share, compared with $18 million, or $1.19 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $1.44 a share. Analysts polled by FactSet had been expecting $1.34 a share.

Quarterly sales slipped 3.7% to $195 million, below analyst projections for $198.4 million, according to FactSet.

Domestic comparable same-restaurant sales were down 5.9% at Applebee's and 2.1% lower at IHOP during the quarter.

The bottom line, meanwhile, got a small boost from lower overhead costs and closure and impairment charges.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 06, 2024 07:16 ET (12:16 GMT)

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