DineEquity (DIN) Misses Q2 EPS by 29c, Revenues Miss

DineEquity (NYSE: DIN) reported Q2 EPS of $0.69, $0.29 worse than the analyst estimate of $0.98. Revenue for the quarter came in at $184.47 million versus the consensus estimate of $186.92 million.

Second Quarter of Fiscal 2018 Financial Highlights

• GAAP net income available to common stockholders was $12.3 million, or earnings per diluted share of $0.69 for the second quarter of 2018. This compares to net income available to common stockholders of $21.8 million, or earnings per diluted share of $1.23, for the second quarter of fiscal 2017. The decrease in net income was primarily due to lower segment profit as the result of $16.5 million in franchisor contributions to the Applebee\'s national advertising fund, partially offset by a decline in bad debt expense, IHOP restaurant development over the past twelve months and improvement in Applebee\'s and IHOP\'s domestic same-restaurant sales.
• Adjusted net income available to common stockholders was $18.3 million, or adjusted earnings per diluted share of $1.03, for the second quarter of fiscal 2018. This compares to adjusted net income available to common stockholders of $23.8 million, or adjusted earnings per diluted share of $1.34, for the second quarter of fiscal 2017. The decrease in adjusted net income was mainly due to lower segment profit as the result of $16.5 million in franchisor contributions to the Applebee\'s national advertising fund, partially offset by a decline in bad debt expense, IHOP restaurant development over the past twelve months and improvement in Applebee\'s and IHOP\'s domestic same-restaurant sales. (See \"Non-GAAP Financial Measures\" below.)
• General and administrative expenses were $38.8 million for the second quarter of fiscal 2018 compared to $37.4 million for the second quarter of fiscal 2017. The increase was primarily due to higher personnel-related costs, partially offset by a decline in professional services expenses.

For earnings history and earnings-related data on DineEquity (DIN) click here.

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