Dine Brands and Bloomin’ Brands reported mixed first-quarter results, but both restaurant operators expressed confidence in a rebound later in the year, according to The Wall Street Journal. Dine Brands, the owner of Applebee’s and IHOP, saw adjusted earnings fall to $1.03 per share, missing estimates by 20 cents. Bloomin’ Brands, which owns Outback Steakhouse and Carrabba’s, posted adjusted earnings of 59 cents a share, beating forecasts by 2 cents. Revenue came in at $1.05 billion, with mixed sales trends across brands. Shares rose in premarket trading, up 3.9% for Bloomin’ and 0.4% for Dine Brands.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Dine Brands and Bloomin' Brands reported mixed first quarter results,
00:05and both restaurant operators expressed confidence in a rebound later in the year,
00:09according to the Wall Street Journal.
00:11Dine Brands, the owner of Applebee's and IHOP,
00:13saw adjusted earnings fall to $1.03 per share, missing estimates by $0.20.
00:18Bloomin' Brands, which owns Outback Steakhouse and Carrabba's,
00:21posted adjusted earnings of $0.59 a share, beating forecasts by $0.02.
00:25Revenue came in at $1.05 billion with mixed sales trends across brands.
00:30Shares rose in pre-market trading up 3.9% for Bloomin' and 0.4% for Dine Brands.
00:35For all things money, visit Benzinga.com slash GSTV.