Dine Brands Global Reports Better Than Expected Q2 Results

Dine Brands Global, Inc. (NYSE:DIN) reported its Q2 results last week, with EPS of $1.65 coming in slightly better than the Street estimate of $1.64. Revenue was $237.8 million, compared to the Street estimate of $236.41 million.

While management did not comment directly on Q3 trends, analysts at Deutsche Bank noted that the company was able to reiterate its full 2022-year adjusted EBITDA guidance range of $235-$250 million, which is clearly positive in this backdrop.

In addition, the analysts highlighted the fact that the company was active with its share repurchase program in Q2, repurchasing approximately 910,000 shares at an average price of $68.57.

The analysts lowered their price target on the company’s shares to $82 from $85, while maintaining their buy rating.