DineEquity (NYSE: DIN) reported Q2 EPS of $1.30, $0.13 better than the analyst estimate of $1.17. Revenue for the quarter came in at $155.2 million versus the consensus estimate of $155.33 million.

Domestic system-wide comparable same-restaurant sales declined 2.6% at IHOP and declined 6.2% at Applebee's.

"We are investing in the empowerment of our brands by improving overall franchisee financial health, closing underperforming restaurants and enhancing the supply chain. We are focusing on operations and elevating the guest experience, whether in our restaurants or off-premise. We believe 2017 will be a transitional year for Applebee's and we are making the necessary investments for overall long-term brand health and expect to see improvement over the next year," said Richard J. Dahl, Chairman and interim Chief Executive Officer of DineEquity, Inc.

Mr. Dahl added, "IHOP remains on solid ground, despite soft sales this quarter. I am optimistic about the growth in both effective franchise restaurants and system-wide sales. IHOP is currently rolling out initiatives to address the convenience needs of our guests, which are inclusive of online ordering as well as accelerating tests for delivery and development of an IHOP mobile application. We believe these will create enhanced revenue channels."

• Revised expectations for Applebee's domestic system-wide same-restaurant sales performance to range between negative 6.0% and negative 8.0%. This compares to previous expectations of between negative 4.0% and negative 8.0%.
• Revised expectations for IHOP's comparable same-restaurant sales performance to range between negative 1.0% and negative 3.0%. This compares to previous expectations of between 0.0% to positive 3.0%.
• Revised expectations for adjusted free cash flow (See "Non-GAAP Financial Measures" below) to range between $76 million and $86 million. This compares to previous expectations of between $96 million and $106 million.

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