Dine Brands Global Inc. reported second-quarter net income totaled $28.7 million, or $1.69 per share, after a loss of $134.8 million, or $8.33 per share last year. The company said the difference was owing to $106.5 million non-cash impairment charges related to Applebee's goodwill and other intangible assets from COVID-19 last year. Adjusted EPS of $1.94 beat the FactSet consensus of $1.71. Revenue of $233.6 million more than doubled from $109.7 million last year and beat the FactSet consensus for $228.2 million. Domestic systemwide same-store sales at Applebee's rose 102.2%, while at IHOP, the rise was 120.1%. Compared with 2019, Applebee's was up 10.5% while IHOP was down 3.4%. Dine Brands stock edged up 0.2% in Thursday trading, and has rallied 32.3% for the year to date while the S&P 500 index is up 17.6% for 2021 so far.
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