IHOP parent Dine Brands' stock sinks after revenue misses

Dine Brands Inc. shares sank 6% in Wednesday trading after the IHOP and Applebee's parent reported first-quarter revenue that missed expectations. Net income totaled $31.6 million, or $1.73 per share, up from $17.1 million, or 92 cents per share, last year. Adjusted EPS was $1.90, beating the $1.80 FactSet consensus. Revenue was $201.4 million, up from $188.2 million last year, but below the $251.0 million FactSet guidance. Applebee's same-restaurant sales grew 1.8%, missing the 3.7% FactSet guidance. IHOP same-restaurant sales of 1.2% growth also missed the FactSet consensus for 2.5% growth. Dine Brands shares have gained nearly 24% for the year to date while the S&P 500 index is up 17.6% for the period.

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