Benzinga | Aug 5, 2021 03:59PM EDT

Dine Brands Global Q2 Earnings Top Estimates

* Dine Brands Global Inc (NYSE:DIN) reported second-quarter FY21 revenue growth of 113% year-on-year, to $233.62 million, beating the analyst consensus of $227.73 million.

* Applebee's same-store sales rose 102.2%, and IHOP's increased 120.1%.

* Gross profit jumped 228.2% Y/Y to $98.8 million. Adjusted EBITDA rose 493% Y/Y to $71.7 million.

* Adjusted EPS of $1.94 beat the analyst consensus of $1.69.

* As of June 30, 2021, out of 3,244 domestic restaurants, 3,222, or 99%, were open for dine-in or off-premise services and 22 were temporarily closed.

* The company held $348.0 million in cash and equivalents as of June 30, 2021. Cash provided by operating activities for the six months amounted to $106 million with a free cash flow of $107.3 million.

* "Looking ahead, our optimism is somewhat tempered by continued volatility, which includes labor shortages and variants of COVID-19," said CFO Vance Chang.

* Outlook: Dine Brands Global says its 2021 results could continue to be materially impacted by COVID-19.

* It sees general and administrative expenses for 2021 of $168 million - $178 million (prior $160 million - $170 million).

* Price action: DIN shares traded higher by 1.67% at $77.815 on the last check Thursday.