DineEquity (NYSE: DIN) reported Q1 EPS of $1.22, $0.03 better than the analyst estimate of $1.19. Revenue for the quarter came in at $156.2 million versus the consensus estimate of $158.32 million.

First Quarter of Fiscal 2017

• IHOP's domestic system-wide comparable same restaurant sales declined 1.7% for the first quarter of 2017.
• Applebee's domestic system-wide comparable same-restaurant sales declined 7.9% for the first quarter of 2017

"The stabilization work on the Applebee's business is ongoing. We have made strategic changes to our organizational structure to start developing talent through more brand-specific expertise. We are also continuing to leverage and build stronger collaborative working relationships with franchisees. We recently announced the appointment of John Cywinski, a highly-regarded industry veteran, as President of Applebee\'s. Additionally, we recently selected a new advertising agency of record to develop campaigns that will resonate with Applebee\'s guests on a national scale. Further, we are developing new culinary initiatives to enhance brand relevance," said Richard J. Dahl, Chairman and interim Chief Executive Officer of DineEquity, Inc.

Mr. Dahl added, "I am very confident in the several strategies underway at IHOP to drive sales and traffic as well as improve the guest experience through restaurant remodels and expansion of our off-premise business. Importantly, we have taken action to further empower Applebee's, IHOP and the International division by redirecting team members and resources formerly provided by DineEquity to these operating units."

DineEquity reiterates its financial performance guidance for fiscal 2017 contained in the press release issued on March 1, 2017. The projections for fiscal 2017 are based on management\'s expectations as of March 1, 2017.

For earnings history and earnings-related data on DineEquity (DIN) click here.