Dine Brands Global, Inc. (NYSE:DIN) shares moved higher on Wednesday after the restaurant operator reported better-than-expected quarterly results and reaffirmed its full-year outlook.
The company highlighted stable same-store sales expectations at Applebee’s and IHOP while continuing to expand its dual-branded restaurant footprint through franchise-led growth.
Quarterly Details
The company reported first-quarter adjusted earnings per share of $1.07, beating the analyst consensus estimate of $1.01.
Quarterly sales of $225.200 million (+4.8% year over year) outpaced the Street view of $222.321 million.
Consolidated adjusted EBITDA for the first quarter was $50.8 million compared to $54.7 million in the year-ago period.
Cash and equivalents and restricted cash were approximately $172.9 million, of which approximately $104.2 million was unrestricted cash.
Operating cash flow for the first quarter was $7.50 milliom, down from $16.10 million in the prior year quarter.
During the first quarter, the …
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