Dine Brands recorded higher sales and lower profit in the second quarter, as IHOP's growth helped offset a decline at Applebee's.
The company behind Applebee's and IHOP on Wednesday posted a profit of $4.3 million, or 35 cents a share, compared with $13.8 million, or 89 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $1.16, below the $1.20 anticipated by analysts, according to FactSet.
Revenue rose 4% to $240.9 million. Analysts surveyed by FactSet forecast revenue of $237.3 million. Sales growth was driven by higher company-owned restaurant sales.
Domestic same-store sales fell 1.8% at Applebee's and rose 1.5% at IHOP. Analysts were projecting a 2.2% decline and 0.5% increase, respectively.
Customers are remaining focused on affordability and value, Chief Executive John Peyton said.
Dine Brands maintained its full-year guidance.