Is it possible the Street is underestimating sales and market-share opportunities in 2021 for many of the larger publicly-traded casual dining concepts?
A number of full-service restaurant companies have been generous as of late in terms of providing weekly same-store sales data. In this report, we compile and compare the recent same-store sales trends of various casual dining and family dining concepts. We also look at some segment trends, and see what this may imply for recent same-store trends of these concepts that have not yet provided samestore sales results for the last few weeks.
Earlier today, Dine Brands (DIN; Buy, $48.13) reported adjusted Q1 EPS of $1.45, well above our $0.90 forecast and sell-side consensus (according to Consensus Metrix) of $1.12. Shares are up intraday by over 20%+ due to the earnings beat and better other details than the Street generally expected.