- Dine Brands Global Inc DIN reported second-quarter FY22 sales growth of 1.8% year-on-year to $237.79 million, beating the consensus of $236.45 million.
- Applebee's comparable same-restaurant sales rose 1.8%, and IHOP's increased 3.6%.
- Gross profit declined 3.2% Y/Y to $95.7 million. Adjusted EBITDA fell 7.8% Y/Y to $66.1 million.
- Adjusted EPS of $1.65 beat the analyst consensus of $1.63.
- The company held $329.7 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for the six months amounted to $29.9 million with an adjusted free cash flow of $23.1 million.
- CFO Vance Chang, said, "We remain cautiously optimistic about Dine's near-term outlook and are reaffirming our 2022 guidance."
- Price Action: DIN shares traded lower by 0.75% at $71.84 on the last check Tuesday.
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