DineEquity Inc. reported fourth quarter earnings and revenues that exceeded analysts’ forecasts.
The Glendale restaurant operator and parent company of Applebee’s Neighborhood Grill & Bar and IHOP reported adjusted net income of $29.5 million ($1.59 per share) for the quarter ended Oct. 31, compared to $21.9 million ($1.16 per share) for the same period last year. Revenue rose 4 percent to $171 million.
Analysts surveyed by Thomson Financial Network expected net income of $1.32 a share on revenue of $169 million.
Same-store sales at IHOP restaurants increased 1.4 percent during the quarter, while Applebee’s comparable sales declined 2.5 percent compared to the year-ago quarter. Year-over-year same store sales increased domestically by 4.5 percent at IHOP restaurants, and 0.2 percent at Applebee’s restaurants for fiscal 2015.
“Our latest fiscal year was highlighted by several notable achievements. We reported significant growth in adjusted earnings per diluted share, implemented strategic initiatives to accelerate growth across both brands and substantially expanded the international pipeline for longer term restaurant development,” Chief Executive Julia A. Stewart, said in a prepared statement.
In terms of full year results, the company reported adjusted net income of $116 million ($6.19 a share) for fiscal 2015, compared to $89.6 million ($4.73 a share) for fiscal 2014.
DineEquity also announced a first-quarter cash dividend of 92 cents a share, payable April 8 to stockholders on record at the close of March 18.
Shares closed up $7.45 cents or 8.6 percent to $93.82 on the New York Stock Exchange.