Why Restaurant Operator Dine Brands' Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Dine Brands Global, Inc. (NYSE:DIN) reported a Q3 FY23 revenue decline of 13.1% YoY to $202.58 million, missing the consensus of $203.23 million. The decline was primarily due to the refranchising of 69 company-operated Applebee's units and negative same-restaurant sales growth at Applebee's. The company's adjusted EPS of $1.46 beat the analyst consensus of $1.31. The company's shares are trading lower by 5.31%.
November 01, 2023 | 2:46 pm
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Dine Brands' Q3 FY23 revenue missed consensus due to refranchising of Applebee's units and negative sales growth. Despite beating EPS estimates, the company's shares are trading lower.
Dine Brands' revenue missed consensus due to refranchising of Applebee's units and negative sales growth. This indicates a weaker than expected financial performance, which is likely to negatively impact investor sentiment and the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100