Dine Brands Global (DIN - Get Report) shares slid Wednesday after the parent of IHop and Applebee's restaurants reported second-quarter adjusted results that came up short of analysts' estimates and revised its outlook lower.
Dine shares were down 8.6%, at $79, early Wednesday.
Per-share earnings at the Glendale, Calif., company were $1.18, up 86% from 69 cents in the prior-year period.
Adjusted earnings were $1.71 a share against $1.03. That's below the consensus estimate of six analysts surveyed by FactSet: $1.81 a share.
Revenue climbed 24% to $228.1 million from $184.5 million. The FactSet survey was looking for $234.5 million in the latest period.
For the quarter, IHop's comparable-restaurant sales were 2% higher while those at Applebee's were down 0.5%.
For the full year, Dine estimates profit between $5.75 and $6 a share. Its previous view was between $6.15 and $6.45.
For the adjusted result, Dine now expects profit of $6.80 to $7.05, compared with its previous view of $6.90 to $7.20. FactSet's survey estimated $7.15.
Dine Brands now sees full-year comparable-restaurant sales anywhere from flat to up 1.5% from the year earlier. Its previous estimate was up 2% to 4%.
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