Dine Brands and Bloomin’ Brands reported mixed first-quarter results, but both restaurant operators expressed confidence in a rebound later in the year, according to The Wall Street Journal. Dine Brands, the owner of Applebee’s and IHOP, saw adjusted earnings fall to $1.03 per share, missing estimates by 20 cents. Bloomin’ Brands, which owns Outback Steakhouse and Carrabba’s, posted adjusted earnings of 59 cents a share, beating forecasts by 2 cents. Revenue came in at $1.05 billion, with mixed sales trends across brands. Shares rose in premarket trading, up 3.9% for Bloomin’ and 0.4% for Dine Brands.
