DIN (Post-Call): Shares Shrug Off Weak Sales Trends
Earlier today (Wednesday), Dine Brands reported third-quarter adjusted EPS of $1.44. This is above our $1.35 forecast and sell-side consensus (according to Consensus Metrix) of $1.34. At first glance, the earnings beat looks driven by lower-than-anticipated G&A expenses ($45.4 million actual vs. $50.5 million projected and consensus at $50.1 million).