STOCK TITAN

Dine Brands Global, Inc. Reports Third Quarter 2024 Results

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Dine Brands Global (NYSE: DIN) reported Q3 2024 financial results showing declining sales across its restaurant brands. Applebee's saw domestic same-restaurant sales decline 5.9%, while IHOP experienced a 2.1% decrease. Total revenues were $195.0 million, down from $202.6 million in Q3 2023. Despite top-line challenges, GAAP net income increased to $18.5 million ($1.24 per diluted share) compared to $18.0 million ($1.19 per diluted share) in Q3 2023. The company maintained most of its 2024 guidance but reduced G&A expense expectations to $195-200 million.

Dine Brands Global (NYSE: DIN) ha riportato i risultati finanziari del terzo trimestre 2024, evidenziando un calo delle vendite nei suoi marchi di ristorazione. Applebee's ha registrato un decremento delle vendite domestiche dello 5,9%, mentre IHOP ha subito una diminuzione del 2,1%. I ricavi totali ammontano a 195,0 milioni di dollari, in calo rispetto ai 202,6 milioni di dollari del terzo trimestre 2023. Nonostante le difficoltà sul fronte dei ricavi, l'utile netto secondo GAAP è aumentato a 18,5 milioni di dollari (1,24 dollari per azione diluita) rispetto ai 18,0 milioni di dollari (1,19 dollari per azione diluita) del terzo trimestre 2023. L'azienda ha mantenuto gran parte delle sue previsioni per il 2024, ma ha ridotto le aspettative per le spese generali e amministrative a 195-200 milioni di dollari.

Dine Brands Global (NYSE: DIN) reportó los resultados financieros del tercer trimestre de 2024, mostrando una disminución en las ventas de sus marcas de restaurantes. Applebee's vio una disminución del 5.9% en las ventas a restaurantes comparables en EE. UU., mientras que IHOP experimentó una disminución del 2.1%. Los ingresos totales fueron de 195.0 millones de dólares, en comparación con los 202.6 millones de dólares en el tercer trimestre de 2023. A pesar de los desafíos en la parte superior, el ingreso neto GAAP aumentó a 18.5 millones de dólares (1.24 dólares por acción diluida) en comparación con los 18.0 millones de dólares (1.19 dólares por acción diluida) en el tercer trimestre de 2023. La compañía mantuvo gran parte de su guía para 2024, pero redujo las expectativas de gastos generales y administrativos a 195-200 millones de dólares.

Dine Brands Global (NYSE: DIN)는 2024년 3분기 재무 결과를 발표하여 자사 레스토랑 브랜드의 매출 감소를 나타냈습니다. Applebee's는 국내 동일 매장 판매가 5.9% 감소했으며, IHOP는 2.1% 감소를 경험했습니다. 총 수익은 1억 9,500만 달러로, 2023년 3분기 2억 6백만 달러에서 감소했습니다. 매출의 어려움에도 불구하고 GAAP 기준 순이익은 1,850만 달러(희석 주당 1.24달러)로 증가했으며, 이는 2023년 3분기 1,800만 달러(희석 주당 1.19달러)와 비교됩니다. 회사는 2024년 전망의 대부분을 유지했지만, 일반 및 관리 비용 예상치를 1억 9,500만 - 2억 달러로 조정했습니다.

Dine Brands Global (NYSE: DIN) a publié ses résultats financiers pour le troisième trimestre 2024, montrant une baisse des ventes au sein de ses marques de restaurants. Applebee's a enregistré une baisse de 5,9% des ventes dans les mêmes restaurants aux États-Unis, tandis que IHOP a connu une diminution de 2,1%. Les revenus totaux se sont élevés à 195,0 millions de dollars, en baisse par rapport à 202,6 millions de dollars au troisième trimestre 2023. Malgré les défis à la hausse, le bénéfice net selon les normes GAAP a augmenté à 18,5 millions de dollars (1,24 dollar par action diluée) contre 18,0 millions de dollars (1,19 dollar par action diluée) au troisième trimestre 2023. L'entreprise a maintenu la plupart de ses prévisions pour 2024, mais a réduit ses attentes concernant les dépenses générales et administratives à 195-200 millions de dollars.

Dine Brands Global (NYSE: DIN) hat die Finanzergebnisse für das dritte Quartal 2024 veröffentlicht, die einen Rückgang der Umsätze bei seinen Restaurantmarken zeigen. Applebee's verzeichnete einen Rückgang der vergleichbaren Restaurantumsätze um 5,9%, während IHOP einen Rückgang von 2,1% erlebte. Die Gesamteinnahmen beliefen sich auf 195,0 Millionen Dollar, ein Rückgang von 202,6 Millionen Dollar im dritten Quartal 2023. Trotz der Herausforderungen an der Umsatzfront stieg der GAAP-Nettoertrag auf 18,5 Millionen Dollar (1,24 Dollar pro verwässerter Aktie) im Vergleich zu 18,0 Millionen Dollar (1,19 Dollar pro verwässerter Aktie) im dritten Quartal 2023. Das Unternehmen hielt die meisten seiner Prognosen für 2024 aufrecht, reduzierte jedoch die Erwartungen für allgemeine und administrative Ausgaben auf 195-200 Millionen Dollar.

Positive
  • Net income increased to $18.5 million from $18.0 million YoY
  • Consolidated adjusted EBITDA improved to $61.9 million from $60.6 million YoY
  • G&A expenses decreased to $45.4 million from $48.6 million YoY
  • Adjusted free cash flow improved to $77.8 million from $54.0 million YoY
Negative
  • Applebee's domestic same-restaurant sales declined 5.9%
  • IHOP's domestic same-restaurant sales declined 2.1%
  • Total revenues decreased to $195.0 million from $202.6 million YoY
  • Net restaurant count declined with 19 closures versus 10 new openings in Q3

Insights

The Q3 2024 results reveal significant headwinds for Dine Brands Global. Same-restaurant sales declined by 5.9% at Applebee's and 2.1% at IHOP, indicating substantial consumer pullback. Total revenues dropped to $195.0 million from $202.6 million year-over-year.

Despite top-line pressure, the company's asset-lite model demonstrated resilience with adjusted EBITDA slightly improving to $61.9 million from $60.6 million. The balance sheet remains solid with $169.6 million in unrestricted cash and over $224 million in available borrowing capacity.

The negative development trend with 19 closures versus 10 openings in Q3, coupled with reduced G&A guidance, suggests management is implementing cost controls to protect margins amid challenging market conditions. The maintained negative comp sales guidance indicates continued near-term pressure on the business.

The casual dining sector is facing significant challenges as evidenced by Dine Brands' results. Off-premise sales have stabilized (Applebee's at 21.7%, IHOP at 19.3%) but haven't grown significantly year-over-year, indicating a plateau in delivery and takeout demand.

The company's focus on "enhancing value proposition" signals increased promotional activity, which could pressure margins but is necessary given the highly competitive environment. The net restaurant closure trend suggests franchisees are struggling with profitability, particularly concerning given the company's franchise-based business model.

Consumer spending patterns and inflationary pressures continue to impact the casual dining segment, with value-seeking behavior becoming more prominent. This trend is likely to persist through the remainder of 2024.

PASADENA, Calif.--(BUSINESS WIRE)-- Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill & Bar®, IHOP® and Fuzzy’s Taco Shop® restaurants, today announced financial results for the third quarter of fiscal year 2024.

“During the third quarter, we continued to experience consumer pullback and the pressures of a highly promotional operating environment. We know we need to do more in the near term to drive traffic and get back to better top-line performance. For the fourth quarter, we are enhancing our value proposition for guests and remain focused on executing our plans across our brands,” said John Peyton, chief executive officer, Dine Brands Global, Inc.

Vance Chang, chief financial officer, Dine Brands Global, Inc., added, “Our third quarter results demonstrated the resiliency of our business model despite the challenges to our top line. Our cash flow generation ability through market cycles is supported by our asset-lite model and the scale of our platform. We are confident in our ability to drive long-term value for our stakeholders.”

Domestic Restaurant Sales for the Third Quarter of 2024

  • Applebee’s year-over-year domestic comparable same-restaurant sales declined 5.9% for the third quarter of 2024. Off-premise sales mix accounted for 21.7% in the third quarter of 2024 compared to 21.5% in the third quarter of 2023.
  • IHOP’s year-over-year domestic comparable same-restaurant sales declined 2.1% for the third quarter of 2024. Off-premise sales mix accounted for 19.3% in the third quarter of 2024 compared to 19.5% in the third quarter of 2023.

Third Quarter of 2024 Summary

  • Total revenues for the third quarter of 2024 were $195.0 million compared to $202.6 million for the third quarter of 2023. The decrease was primarily due to the negative comparable same-restaurant sales growth at Applebee’s and IHOP, partially offset by increases in the number of effective franchise restaurants and proprietary product sales at IHOP.
  • General and Administrative (“G&A”) expenses for the third quarter of 2024 were $45.4 million compared to $48.6 million for the third quarter of 2023. The variance was primarily attributable to lower compensation-related expenses offset by an increase in depreciation expense.
  • GAAP net income available to common stockholders was $18.5 million, or earnings per diluted share of $1.24, for the third quarter of 2024 compared to net income available to common stockholders of $18.0 million, or earnings per diluted share of $1.19 for the third quarter of 2023. The increase was primarily due to a decrease in G&A expenses and a decrease in closure and impairment charges, partially offset by a decrease in segment profit.
  • Adjusted net income available to common stockholders was $21.4 million, or adjusted earnings per diluted share of $1.44, for the third quarter of 2024 compared to adjusted net income available to common stockholders of $22.3 million, or adjusted earnings per diluted share of $1.46, for the third quarter of 2023. The decline was primarily due to a decrease in segment profit, partially offset by a decrease in G&A expenses. (See “Non-GAAP Financial Measures” for definition and reconciliation of GAAP net income available to common stockholders to adjusted net income available to common stockholders.)
  • Consolidated adjusted EBITDA for the third quarter of 2024 was $61.9 million compared to $60.6 million for the third quarter of 2023. (See “Non-GAAP Financial Measures” for definition and reconciliation of GAAP net income to consolidated adjusted EBITDA.)
  • Development activity by Applebee’s and IHOP franchisees for the third quarter of 2024 resulted in 10 new restaurant openings and 19 restaurant closures.

First Nine Months of 2024 Summary

  • Total revenues for the first nine months of 2024 were $607.5 million compared to $624.8 million for the first nine months of 2023. The decline was primarily due to the negative comparable same-restaurant sales growth at the brands, partially offset by increases in the number of effective franchise restaurants and proprietary product sales at IHOP.
  • G&A expenses for the first nine months of 2024 were $144.4 million compared to $147.5 million for the first nine months of 2023. The variance was primarily due to the stopping of the IHOP Flip’d initiative in the prior period, a decrease in professional services including acquisition costs, a decrease in occupancy costs and a decrease in compensation-related expenses, partially offset by an increase in depreciation expense.
  • GAAP net income available to common stockholders was $58.0 million, or earnings per diluted share of $3.88, for the first nine months of 2024 compared to net income available to common stockholders of $62.6 million, or earnings per diluted share of $4.09 for the first nine months of 2023. The decline was primarily due to a decrease in segment profit, partially offset by a decrease in G&A expenses.
  • Adjusted net income available to common stockholders was $66.9 million, or adjusted earnings per diluted share of $4.48, for the first nine months of 2024 compared to adjusted net income available to common stockholders of $80.3 million, or adjusted earnings per diluted share of $5.25, for the first nine months of 2023. The decline was primarily due to a decrease in segment profit and an increase in interest expense as a result of our April 2023 refinancing. (See “Non-GAAP Financial Measures” for definition and reconciliation of GAAP net income available to common stockholders to adjusted net income available to common stockholders.)
  • Consolidated adjusted EBITDA for the first nine months of 2024 was $189.7 million compared to $194.2 million for the first nine months of 2023. (See “Non-GAAP Financial Measures” for definition and reconciliation of GAAP net income to consolidated adjusted EBITDA.)
  • Cash flows provided by operating activities for the first nine months of 2024 were $77.7 million. This compares to cash flows provided by operating activities of $79.3 million for the first nine months of 2023. The decline was primarily due to a decrease in segment profit, partially offset by a decrease in G&A expenses and a favorable increase in working capital.
  • Adjusted free cash flow was $77.8 million for the first nine months of 2024. This compares to adjusted free cash flow of $54.0 million for the first nine months of 2023. (See “Non-GAAP Financial Measures” for definition and reconciliation of the Company’s cash provided by operating activities to adjusted free cash flow.)
  • Development activity by Applebee’s and IHOP franchisees for the first nine months of 2024 resulted in 35 new restaurant openings and 64 restaurant closures.

Key Balance Sheet Metrics (as of September 30, 2024)

  • Total cash, cash equivalents and restricted cash of approximately $235.1 million, of which approximately $169.6 million was unrestricted cash.
  • Available borrowing capacity under the Variable Funding Senior Secured Notes is over $224 million.

GAAP Effective Tax Rate

The Company's effective tax rate was 26.9% for the nine months ended September 30, 2024, as compared to 25.0% for the nine months ended September 30, 2023. The effective tax rate for the nine months ended September 30, 2024 was higher than the rate of the prior comparable period primarily due to a lower tax deduction related to stock-based compensation.

Capital Returns to Equity Holders

During the third quarter of 2024, paid quarterly cash dividends totaling approximately $7.8 million.

Financial Performance Guidance for 2024

The Company’s fiscal year 2024 guidance items have been updated as follows:

  • Reiterated: Applebee’s domestic system-wide comparable same-restaurant sales performance is expected to range between negative 4% and negative 2%.
  • Reiterated: IHOP’s domestic system-wide comparable same-restaurant sales performance is expected to range between negative 2% and 0%.
  • Reiterated: Domestic development activity for Applebee’s franchisees is between 25 and 35 net fewer restaurants.
  • Reiterated: Domestic development activity by IHOP franchisees and area licensees is expected to be between 0 and 10 net new openings.
  • Reiterated: Consolidated adjusted EBITDA is expected to range between approximately $245 million and $255 million.
  • Reduced: G&A expenses are expected to range between approximately $195 million and $200 million (versus between $200 million and $205 million previously). This total includes non-cash stock-based compensation expense and depreciation of approximately $35 million.
  • Reiterated: Gross capital expenditures are expected to range between approximately $14 million and $16 million.

Dine Brands does not provide forward-looking guidance for GAAP net income because it is unable to predict certain items contained in the GAAP measure without unreasonable efforts. These items may include closure and impairment charges, loss on extinguishment of debt, gain or loss on disposition of assets, other non-income-based taxes and other items deemed not reflective of current operations.

Third quarter of 2024 Earnings Conference Call Details

Dine Brands will host a conference call to discuss its results on November 6, 2024, at 9:00 a.m. Eastern time. To access the call, please click this conference call registration link, and you will be provided with dial in details. A live webcast of the call, along with a replay, will be available for a limited time at https://investors.dinebrands.com. Participants should allow approximately ten minutes prior to the call’s start time to visit the site and download any streaming media software needed to listen to the webcast. An online archive of the webcast will also be available on Events and Presentations under the Investors section of the Company’s website.

About Dine Brands Global, Inc.

Based in Pasadena, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries and franchisees, supports and operates restaurants under the Applebee's Neighborhood Grill + Bar®, IHOP®, and Fuzzy’s Taco Shop® brands. As of September 30, 2024, these three brands consisted of over 3,500 restaurants across 19 international markets. Dine Brands is one of the largest full-service restaurant companies in the world and in 2022 expanded into the Fast Casual segment. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.

Forward-Looking Statements

Statements contained in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: general economic conditions, including the impact of inflation, particularly as it may impact our franchisees directly; our level of indebtedness; compliance with the terms of our securitized debt; our ability to refinance our current indebtedness or obtain additional financing; our dependence on information technology; potential cyber incidents; the implementation of restaurant development plans; our dependence on our franchisees; the concentration of our Applebee’s franchised restaurants in a limited number of franchisees; the financial health of our franchisees including any insolvency or bankruptcy; credit risks from our IHOP franchisees operating under our previous IHOP business model in which we built and equipped IHOP restaurants and then franchised them to franchisees; insufficient insurance coverage to cover potential risks associated with the ownership and operation of restaurants; our franchisees’ and other licensees’ compliance with our quality standards and trademark usage; general risks associated with the restaurant industry; potential harm to our brands’ reputation; risks of food-borne illness or food tampering; possible future impairment charges; trading volatility and fluctuations in the price of our stock; our ability to achieve the financial guidance we provide to investors; successful implementation of our business strategy; the availability of suitable locations for new restaurants; shortages or interruptions in the supply or delivery of products from third parties or availability of utilities; the management and forecasting of appropriate inventory levels; development and implementation of innovative marketing and use of social media; changing health or dietary preference of consumers; risks associated with doing business in international markets; the results of litigation and other legal proceedings; third-party claims with respect to intellectual property assets; delivery initiatives and use of third-party delivery vendors; our allocation of human capital and our ability to attract and retain management and other key employees; compliance with federal, state and local governmental regulations; risks associated with our self-insurance; natural disasters, pandemics, epidemics, or other serious incidents; our success with development initiatives outside of our core business; the adequacy of our internal controls over financial reporting and future changes in accounting standards; and other factors discussed from time to time in the Corporation’s Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Corporation’s other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.

Non-GAAP Financial Measures

This press release includes references to the Company's non-GAAP financial measure “adjusted net income available to common stockholders”, “adjusted earnings per diluted share (Adjusted EPS)”, “Adjusted EBITDA” and “Adjusted free cash flow.” Adjusted EPS is computed for a given period by deducting from net income or loss available to common stockholders for such period the effect of any closure and impairment charges, any intangible asset amortization, any non-cash interest expense, any gain or loss related to the disposition of assets, any gain or loss related to debt extinguishment, and other items deemed not reflective of current operations. This is presented on an aggregate basis and a per share (diluted) basis. Adjusted EBITDA is computed for a given period by deducting from net income or loss for such period the effect of any interest expense, any income tax provision or benefit, any depreciation and amortization, any non-cash stock-based compensation, any closure and impairment charges, any gain or loss related to debt extinguishment, any gain or loss related to the disposition of assets, and other items deemed not reflective of current operations. “Adjusted free cash flow” for a given period is defined as cash provided by operating activities, plus receipts from notes and equipment contracts receivable, less capital expenditures. Management may use certain of these non-GAAP financial measures along with the corresponding U.S. GAAP measures to evaluate the performance of the business and to make certain business decisions. Management uses adjusted free cash flow in its periodic assessments of, among other things, the amount of cash dividends per share of common stock and repurchases of common stock and we believe it is important for investors to have the same measure used by management for that purpose. Adjusted free cash flow does not represent residual cash flow available for discretionary purposes. Management believes that these non-GAAP financial measures provide additional meaningful information that should be considered when assessing the business and the Company’s performance compared to prior periods and the marketplace. Adjusted EPS and adjusted free cash flow are supplemental non-GAAP financial measures and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP.

FBN-R

Dine Brands Global, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income

(In thousands, except per share amounts)

(Unaudited)

 

 

 

 

Three Months Ended

Nine Months Ended

 

September 30,

September 30,

 

2024

2023

2024

2023

Revenues:

 

 

 

Franchise revenues:

 

 

 

 

Royalties, franchise fees and other

$

96,565

 

$

99,135

 

$

299,161

 

$

303,998

 

Advertising revenues

 

69,789

 

 

73,385

 

 

219,568

 

 

226,401

 

Total franchise revenues

 

166,354

 

 

172,520

 

 

518,729

 

 

530,399

 

Company restaurant sales

 

267

 

 

308

 

 

840

 

 

1,839

 

Rental revenues

 

27,991

 

 

29,128

 

 

86,546

 

 

90,519

 

Financing revenues

 

422

 

 

628

 

 

1,421

 

 

2,009

 

Total revenues

 

195,034

 

 

202,584

 

 

607,536

 

 

624,766

 

Cost of revenues:

 

 

 

 

Franchise expenses:

 

 

 

 

Advertising expenses

 

69,789

 

 

73,385

 

 

219,568

 

 

226,401

 

Bad debt (credit) expense

 

151

 

 

(51

)

 

(395

)

 

2,593

 

Other franchise expenses

 

9,787

 

 

9,804

 

 

31,980

 

 

29,790

 

Total franchise expenses

 

79,727

 

 

83,138

 

 

251,153

 

 

258,784

 

Company restaurant expenses

 

304

 

 

323

 

 

915

 

 

1,833

 

Rental expenses:

 

 

 

 

Interest expense from finance leases

 

729

 

 

668

 

 

2,208

 

 

2,072

 

Other rental expenses

 

20,879

 

 

21,066

 

 

63,005

 

 

63,538

 

Total rental expenses

 

21,608

 

 

21,734

 

 

65,213

 

 

65,610

 

Financing expenses

 

76

 

 

91

 

 

241

 

 

283

 

Total cost of revenues

 

101,715

 

 

105,286

 

 

317,522

 

 

326,510

 

Gross profit

 

93,319

 

 

97,298

 

 

290,014

 

 

298,256

 

General and administrative expenses

 

45,390

 

 

48,618

 

 

144,435

 

 

147,545

 

Interest expense, net

 

18,369

 

 

19,059

 

 

54,291

 

 

51,549

 

Closure and impairment charges

 

366

 

 

1,774

 

 

1,442

 

 

3,088

 

Amortization of intangible assets

 

2,724

 

 

2,709

 

 

8,169

 

 

8,202

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

10

 

Loss (gain) on disposition of assets

 

6

 

 

191

 

 

(57

)

 

2,309

 

Income before income taxes

 

26,464

 

 

24,947

 

 

81,734

 

 

85,553

 

Income tax provision

 

(7,403

)

 

(6,468

)

 

(22,018

)

 

(21,416

)

Net income

 

19,061

 

 

18,479

 

 

59,716

 

 

64,137

 

Other comprehensive income (loss) net of tax:

 

 

 

 

Foreign currency translation adjustment

 

2

 

 

(2

)

 

(3

)

 

(2

)

Total comprehensive income

$

19,063

 

$

18,477

 

$

59,713

 

$

64,135

 

Net income available to common stockholders:

 

 

 

 

Net income

$

19,061

 

$

18,479

 

$

59,716

 

$

64,137

 

Less: Net income allocated to unvested participating restricted stock

 

(553

)

 

(431

)

 

(1,760

)

 

(1,551

)

Net income available to common stockholders

$

18,508

 

$

18,048

 

$

57,956

 

$

62,586

 

 

 

 

 

 

Net income available to common stockholders per share:

 

 

 

 

Basic

$

1.24

 

$

1.19

 

$

3.88

 

$

4.10

 

Diluted

$

1.24

 

$

1.19

 

$

3.88

 

$

4.09

 

Weighted average shares outstanding:

 

 

 

 

Basic

 

14,897

 

 

15,217

 

 

14,940

 

 

15,275

 

Diluted

 

14,897

 

 

15,220

 

 

14,940

 

 

15,289

 

 

Dine Brands Global, Inc. and Subsidiaries

Consolidated Balance Sheets

(In thousands)

 

 

 

 

 

 

 

September 30, 2024

 

December 31, 2023

Assets

 

(Unaudited)

 

 

Current assets:

 

 

Cash and cash equivalents

$

169,636

 

$

146,034

 

Receivables, net of allowance

 

83,414

 

 

127,937

 

Restricted cash

 

45,974

 

 

35,058

 

Prepaid gift card costs

 

23,493

 

 

29,545

 

Prepaid income taxes

 

806

 

 

3,445

 

Other current assets

 

8,108

 

 

15,759

 

Total current assets

 

331,431

 

 

357,778

 

Non-current restricted cash

 

19,500

 

 

19,500

 

Property and equipment, net

 

154,932

 

 

161,891

 

Operating lease right-of-use assets

 

282,202

 

 

275,214

 

Deferred rent receivable

 

26,721

 

 

33,326

 

Long-term receivables, net of allowance

 

33,508

 

 

35,602

 

Goodwill

 

254,062

 

 

254,062

 

Other intangible assets, net

 

578,309

 

 

586,033

 

Other non-current assets, net

 

18,874

 

 

16,881

 

Total assets

$

1,699,539

 

$

1,740,287

 

Liabilities and Stockholders’ Deficit

 

 

Current liabilities:

 

 

Current maturities of long-term debt

$

100,000

 

$

100,000

 

Accounts payable

 

35,455

 

 

36,193

 

Gift card liability

 

137,020

 

 

175,640

 

Current maturities of operating lease obligations

 

61,181

 

 

63,498

 

Current maturities of finance lease and financing obligations

 

6,713

 

 

7,243

 

Accrued employee compensation and benefits

 

12,063

 

 

23,211

 

Accrued advertising expenses

 

3,616

 

 

9,446

 

Dividends payable

 

7,790

 

 

7,827

 

Other accrued expenses

 

23,012

 

 

37,394

 

Total current liabilities

 

386,850

 

 

460,452

 

Long-term debt, net, less current maturities

 

1,086,026

 

 

1,084,502

 

Operating lease obligations, less current maturities

 

271,283

 

 

269,097

 

Finance lease obligations, less current maturities

 

35,720

 

 

34,389

 

Financing obligations, less current maturities

 

24,940

 

 

26,984

 

Deferred income taxes, net

 

57,493

 

 

60,829

 

Deferred franchise revenue, long-term

 

37,681

 

 

38,658

 

Other non-current liabilities

 

16,216

 

 

16,350

 

Total liabilities

 

1,916,209

 

 

1,991,261

 

Commitments and contingencies

 

 

Stockholders’ deficit:

 

 

Common stock

 

248

 

 

249

 

Additional paid-in-capital

 

252,994

 

 

256,542

 

Retained earnings

 

186,237

 

 

150,008

 

Accumulated other comprehensive loss

 

(67

)

 

(64

)

Treasury stock, at cost

 

(656,082

)

 

(657,709

)

Total stockholders’ deficit

 

(216,670

)

 

(250,974

)

Total liabilities and stockholders’ deficit

$

1,699,539

 

$

1,740,287

 

 

Dine Brands Global, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(In thousands) (Unaudited)

 

 

 

 

 

Nine Months Ended

 

 

September 30,

 

 

2024

 

2023

Cash flows from operating activities:

 

 

Net income

$

59,716

 

$

64,137

 

Adjustments to reconcile net income to cash flows provided by operating activities:

 

 

Depreciation and amortization

 

29,049

 

 

26,221

 

Non-cash closure and impairment charges

 

1,442

 

 

3,088

 

Non-cash stock-based compensation expense

 

12,572

 

 

8,167

 

Non-cash interest expense

 

2,448

 

 

2,714

 

Loss on extinguishment of debt

 

 

 

10

 

Deferred income taxes

 

(3,335

)

 

(3,582

)

Deferred revenue

 

(3,431

)

 

(2,590

)

(Gain) loss on disposition of assets

 

(57

)

 

2,309

 

Other

 

(2,894

)

 

(1,577

)

Changes in operating assets and liabilities:

 

 

Receivables, net

 

6,937

 

 

6,354

 

Deferred rent receivable

 

6,605

 

 

6,792

 

Current income tax receivable and payable

 

1,352

 

 

(186

)

Gift card receivable and payable

 

(13,060

)

 

(13,588

)

Other current assets

 

7,624

 

 

6,358

 

Accounts payable

 

(2,100

)

 

(15,527

)

Operating lease assets and liabilities

 

(9,716

)

 

2,438

 

Accrued employee compensation and benefits

 

(11,033

)

 

(4,447

)

Accrued advertising

 

(1,827

)

 

(9,750

)

Other current liabilities

 

(2,598

)

 

1,965

 

Cash flows provided by operating activities

 

77,694

 

 

79,306

 

Cash flows from investing activities:

 

 

Principal receipts from notes, equipment contracts and other long-term receivables

 

10,388

 

 

6,686

 

Additions to property and equipment

 

(10,305

)

 

(31,968

)

Proceeds from sale of property and equipment

 

305

 

 

 

Additions to long-term receivables

 

(649

)

 

(1,237

)

Other

 

(400

)

 

(113

)

Cash flows used in investing activities

 

(661

)

 

(26,632

)

Cash flows from financing activities:

 

 

Proceeds from issuance of long-term debt

 

 

 

500,000

 

Repayment of long-term debt

 

 

 

(651,713

)

Borrowing from revolving credit facility

 

 

 

30,000

 

Repayment of revolving credit facility

 

 

 

(30,000

)

Payment of debt issuance costs

 

 

 

(8,044

)

Dividends paid on common stock

 

(23,513

)

 

(31,740

)

Repurchase of common stock

 

(12,000

)

 

(20,017

)

Principal payments on finance lease and financing obligations

 

(4,396

)

 

(5,329

)

Proceeds from stock options exercised

 

 

 

3,812

 

Repurchase of restricted stock for tax payments upon vesting

 

(2,573

)

 

(4,139

)

Tax payments for share settlement of restricted stock units

 

(30

)

 

(859

)

Other

 

(3

)

 

 

Cash flows used in financing activities

 

(42,515

)

 

(218,029

)

Net change in cash, cash equivalents and restricted cash

 

34,518

 

 

(165,355

)

Cash, cash equivalents and restricted cash at beginning of period

 

200,592

 

 

324,984

 

Cash, cash equivalents and restricted cash at end of period

$

235,110

 

$

159,629

 

 

Dine Brands Global, Inc. and Subsidiaries
Non-GAAP Financial Measures
(In thousands, except per share amounts)
(Unaudited)

Reconciliation of net income available to common stockholders to net income available to common stockholders, as adjusted for the following items: Closure and impairment charges; amortization of intangible assets; non-cash interest expenses; loss on extinguishment of debt; gain or loss on disposition of assets; acquisition costs; IHOP Flip'd initiative; other EBITDA adjustments; and the combined tax effect of the preceding adjustments, as well as related per share data:

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

Net income available to common stockholders

$

18,508

 

$

18,048

 

$

57,956

 

$

62,586

 

Closure and impairment charges

 

366

 

 

1,774

 

 

1,442

 

 

3,088

 

Amortization of intangible assets

 

2,724

 

 

2,709

 

 

8,169

 

 

8,202

 

Non-cash interest expense

 

829

 

 

779

 

 

2,448

 

 

2,714

 

Loss (gain) on disposition of assets

 

6

 

 

191

 

 

(57

)

 

2,309

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

10

 

Acquisition costs

 

 

 

 

 

 

 

804

 

IHOP Flip'd initiative

 

 

 

 

 

 

 

5,121

 

Other EBITDA adjustments

 

119

 

 

361

 

 

484

 

 

2,232

 

Net income tax provision for above adjustments

 

(1,051

)

 

(1,512

)

 

(3,246

)

 

(6,365

)

Net income allocated to unvested participating restricted stock

 

(89

)

 

(99

)

 

(274

)

 

(439

)

Net income available to common stockholders, as adjusted

$

21,412

 

$

22,251

 

$

66,922

 

$

80,262

 

 

 

 

 

 

Diluted net income available to common stockholders per share (a):

 

 

 

 

Net income available to common stockholders

$

1.24

 

$

1.19

 

$

3.88

 

$

4.09

 

Closure and impairment charges

 

0.02

 

 

0.09

 

 

0.07

 

 

0.15

 

Amortization of intangible assets

 

0.14

 

 

0.13

 

 

0.40

 

 

0.40

 

Non-cash interest expense

 

0.04

 

 

0.04

 

 

0.12

 

 

0.13

 

Loss (gain) on disposition of assets

 

0.00

 

 

0.01

 

 

0.00

 

 

0.11

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

0.00

 

Acquisition costs

 

 

 

 

 

 

 

0.04

 

IHOP Flip'd initiative

 

 

 

 

 

 

 

0.25

 

Other EBITDA adjustments

 

0.01

 

 

0.02

 

 

0.02

 

 

0.11

 

Net income allocated to unvested participating restricted stock

 

(0.01

)

 

(0.01

)

 

(0.02

)

 

(0.03

)

Rounding

 

 

 

(0.01

)

 

0.01

 

 

 

Diluted net income available to common stockholders per share, as adjusted

$

1.44

 

$

1.46

 

$

4.48

 

$

5.25

 

 

 

 

 

 

Numerator for basic EPS - net income available to common stockholders, as adjusted

$

21,412

 

$

22,251

 

$

66,922

 

$

80,262

 

Effect of unvested participating restricted stock using the two-class method

 

 

 

 

 

0

 

 

 

Numerator for diluted EPS - net income available to common stockholders, as adjusted

$

21,412

 

$

22,251

 

$

66,922

 

$

80,262

 

 

 

 

 

 

Denominator for basic EPS - weighted-average shares

 

14,897

 

 

15,217

 

 

14,940

 

 

15,275

 

Dilutive effect of stock options

 

 

 

3

 

 

 

 

14

 

Denominator for diluted EPS - weighted-average shares

 

14,897

 

 

15,220

 

 

14,940

 

 

15,289

 

_________________________________

(a)

Diluted net income available to common stockholders per share for the three and nine months ended September 30, 2024 and 2023 presented on an after-tax basis.

 

Dine Brands Global, Inc. and Subsidiaries
Non-GAAP Financial Measures
(Unaudited)

Reconciliation of the Company's cash flows provided by operating activities to “adjusted free cash flow” (cash flows provided by operating activities, plus receipts from notes and equipment contracts receivable, less additions to property and equipment). Management uses this liquidity measure in its periodic assessments of, among other things, the amount of cash dividends per share of common stock and repurchases of common stock. We believe it is important for investors to have the same measure used by management for that purpose. Adjusted free cash flow does not represent residual cash flow available for discretionary purposes.

 

Nine Months Ended September 30,

 

2024

 

2023

 

(In thousands)

Cash flows provided by operating activities

$

77,694

 

$

79,306

 

Principal receipts from notes and equipment contracts

 

10,388

 

 

6,686

 

Net additions to property and equipment

 

(10,305

)

 

(31,968

)

Adjusted free cash flow

 

77,777

 

 

54,024

 

Repayment of long-term debt, net

 

 

 

(151,713

)

Dividends paid on common stock

 

(23,513

)

 

(31,740

)

Repurchase of common stock

 

(12,000

)

 

(20,017

)

 

$

42,264

 

$

(149,446

)

 

Dine Brands Global, Inc. and Subsidiaries
Non-GAAP Financial Measures
(in thousands)
(Unaudited)

Reconciliation of the Company's net income to “adjusted EBITDA.” The Company defines adjusted EBITDA as net income or loss, adjusted for the effect of interest expense, income tax provision or benefit, depreciation and amortization, non-cash stock-based compensation, closure and impairment charges, loss on extinguishment of debt, gain or loss on disposition of assets, and other items deemed not reflective of current operations. Management may use certain non-GAAP measures along with the corresponding U.S. GAAP measures to evaluate the performance of the Company and to make certain business decisions.

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

Net income, as reported

$

19,061

 

$

18,479

 

$

59,716

 

$

64,137

 

Interest expense on finance leases

 

729

 

 

668

 

 

2,208

 

 

2,072

 

All other interest expense

 

20,748

 

 

21,178

 

 

62,260

 

 

58,672

 

Income tax provision

 

7,403

 

 

6,468

 

 

22,018

 

 

21,416

 

Depreciation and amortization

 

9,654

 

 

8,587

 

 

29,049

 

 

26,221

 

Non-cash stock-based compensation

 

3,816

 

 

2,858

 

 

12,572

 

 

8,167

 

Closure and impairment charges

 

366

 

 

1,774

 

 

1,442

 

 

3,088

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

10

 

Loss (gain) on disposition of assets

 

6

 

 

191

 

 

(57

)

 

2,309

 

IHOP Flip'd initiative

 

 

 

 

 

 

 

5,121

 

Other

 

119

 

 

361

 

 

484

 

 

3,036

 

Adjusted EBITDA

$

61,902

 

$

60,564

 

$

189,692

 

$

194,249

 

 

Dine Brands Global, Inc. and Subsidiaries
Restaurant Data
(Unaudited)

The following table sets forth, for the three and nine months ended September 30, 2024, the number of “Effective Restaurants” in the Applebee’s, IHOP and Fuzzy's systems and information regarding the percentage change in sales at those restaurants compared to the same periods in the prior year and, as such, the percentage change in sales at Effective Restaurants is based on non-GAAP sales data. Sales at restaurants that are owned by franchisees and area licensees are not attributable to the Company. However, we believe that presentation of this information is useful in analyzing our revenues because franchisees and area licensees pay us royalties and advertising fees that are generally based on a percentage of their sales, and, where applicable, rental payments under leases that partially may be based on a percentage of their sales. Management also uses this information to make decisions about future plans for the development of additional restaurants as well as evaluation of current operations.

 

Three Months Ended
September 30,

Nine Months Ended
September 30,

 

2024

2023

2024

2023

Applebee's Restaurant Data

 

Global Effective Restaurants(a)

 

 

 

 

Franchise

 

1,620

 

 

1,654

 

 

1,627

 

 

1,663

 

Company

 

 

 

 

 

 

 

 

Total

 

1,620

 

 

1,654

 

 

1,627

 

 

1,663

 

System-wide(b)

 

 

 

 

Domestic sales percentage change(c)

 

(7.1

)%

 

(3.2

)%

 

(5.3

)%

 

0.3

%

Domestic same-restaurant sales percentage change(d)

 

(5.9

)%

 

(2.4

)%

 

(4.1

)%

 

0.9

%

Franchise(b)

 

 

 

 

Domestic sales percentage change(c)

 

(7.1

)%

 

0.4

%

 

(5.3

)%

 

4.0

%

Domestic same-restaurant sales percentage change(d)

 

(5.9

)%

 

(2.4

)%

 

(4.1

)%

 

0.9

%

Average weekly domestic unit sales (in thousands)

$

49.5

 

$

52.1

 

$

52.7

 

$

54.4

 

 

 

 

 

 

IHOP Restaurant Data

 

 

 

 

Global Effective Restaurants(a)

 

 

 

 

Franchise

 

1,645

 

 

1,631

 

 

1,645

 

 

1,626

 

Area license

 

155

 

 

156

 

 

155

 

 

156

 

Total

 

1,800

 

 

1,787

 

 

1,800

 

 

1,782

 

System-wide(b)

 

 

 

 

Sales percentage change(c)

 

(1.6

)%

 

4.2

%

 

(0.5

)%

 

6.6

%

Domestic same-restaurant sales percentage change, including area license restaurants(d)

 

(2.1

)%

 

2.0

%

 

(1.7

)%

 

4.2

%

Franchise(b)

 

 

 

 

Sales percentage change(c)

 

(1.3

)%

 

4.5

%

 

(0.4

)%

 

6.9

%

Domestic same-restaurant sales percentage change(d)

 

(1.9

)%

 

2.0

%

 

(1.7

)%

 

4.2

%

Average weekly unit sales (in thousands)

$

37.0

 

$

37.8

 

$

37.7

 

$

38.3

 

Area License(b)

 

 

 

 

Sales percentage change(c)

 

(3.8

)%

 

1.1

%

 

(1.6

)%

 

4.0

%

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

Fuzzy's Restaurant Data

(Unaudited)

Global Effective Restaurants(a)

 

 

 

 

Franchise

 

120

 

 

136

 

 

124

 

 

135

 

Company

 

1

 

 

1

 

 

1

 

 

2

 

Total

 

121

 

 

137

 

 

125

 

 

137

 

System-wide(b)

 

 

 

 

Domestic sales percentage change(c)

 

(15.8

)%

 

(5.2

)%

 

(13.7

)%

 

(1.1

)%

Domestic same-restaurant sales percentage change(d)

 

(9.6

)%

 

(6.1

)%

 

(8.9

)%

 

(3.6

)%

Franchise(b)

 

 

 

 

Domestic sales percentage change(c)

 

(15.8

)%

 

(3.8

)%

 

(13.3

)%

 

(0.3

)%

Domestic same-restaurant sales percentage change(d)

 

(9.6

)%

 

(6.1

)%

 

(8.9

)%

 

(3.7

)%

Average weekly domestic unit sales (in thousands)

$

29.4

 

$

30.7

 

$

30.0

 

$

31.6

 

_________________________________

(a)

“Effective Restaurants” are the weighted average number of restaurants open in each fiscal period, adjusted to account for restaurants open for only a portion of the period. Information is presented for all Effective Restaurants in the Applebee’s and IHOP systems, which consist of restaurants owned by franchisees and area licensees as well as those owned by the Company. Effective Restaurants do not include units operated as ghost kitchens (small kitchens with no store-front presence, used to fill off-premise orders).

(b)

“System-wide sales” are retail sales at Applebee’s and Fuzzy's restaurants operated by franchisees and IHOP restaurants operated by franchisees and area licensees, as reported to the Company, in addition to retail sales at company-operated Fuzzy's restaurants. System-wide sales do not include retail sales of ghost kitchens. Sales at restaurants that are owned by franchisees and area licensees are not attributable to the Company. An increase in franchisees' reported sales will result in a corresponding increase in our royalty revenue, while a decrease in franchisees' reported sales will result in a corresponding decrease in our royalty revenue. Unaudited reported sales for Applebee's and Fuzzy's domestic franchise restaurants, Fuzzy's company-operated restaurants, IHOP franchise restaurants and IHOP area license restaurants were as follows:

 

Three Months Ended
September 30,

Nine Months Ended
September 30,

 

2024

2023

2024

2023

Reported sales (in millions)

 

Applebee's franchise restaurant sales

$

1,007.7

 

$

1,085.3

 

$

3,230.5

 

$

3,411.5

 

IHOP franchise restaurant sales

 

790.3

 

 

801.0

 

 

2,416.2

 

 

2,425.9

 

IHOP area license restaurant sales

 

71.4

 

 

74.3

 

 

224.4

 

 

228.1

 

Fuzzy's franchise restaurant sales

 

45.8

 

 

54.4

 

 

144.9

 

 

167.1

 

Fuzzy's company-operated restaurants

 

0.3

 

 

0.3

 

 

0.9

 

 

1.9

 

Total

$

1,915.5

 

$

2,015.3

 

$

6,016.9

 

$

6,234.5

 

(c)

“Sales percentage change” reflects, for each category of restaurants, the percentage change in sales in any given fiscal period compared to the prior period for all restaurants in that category.

(d)

“Domestic same-restaurant sales percentage change” reflects the percentage change in sales in any given fiscal period, compared to the same weeks in the prior period, for domestic restaurants that have been operated during both periods that are being compared and have been open for at least 18 months. Because of new restaurant openings and restaurant closures, the domestic restaurants open throughout both fiscal periods being compared may be different from period to period.

 

Dine Brands Global, Inc. and Subsidiaries

Restaurant Data

(Unaudited)

 

Restaurant Development Activity

Three Months Ended
September 30,

Nine Months Ended
September 30,

 

2024

2023

2024

2023

Applebee's

 

Summary - beginning of period:

 

 

 

 

Franchise

1,625

 

1,661

 

1,642

 

1,678

 

Company

 

 

 

 

Beginning of period

1,625

 

1,661

 

1,642

 

1,678

 

 

 

 

 

 

Franchise restaurants opened:

 

 

 

 

Domestic

 

2

 

 

3

 

International

4

 

2

 

9

 

5

 

Total franchise restaurants opened

4

 

4

 

9

 

8

 

Franchise restaurants permanently closed:

 

 

 

 

Domestic

(9

)

(12

)

(25

)

(28

)

International

(2

)

(1

)

(8

)

(6

)

Total franchise restaurants permanently closed

(11

)

(13

)

(33

)

(34

)

Net franchise restaurant reduction

(7

)

(9

)

(24

)

(26

)

 

 

 

 

 

Summary - end of period:

 

 

 

 

Franchise

1,618

 

1,652

 

1,618

 

1,652

 

Company

 

 

 

 

Total Applebee's restaurants, end of period

1,618

 

1,652

 

1,618

 

1,652

 

Domestic

1,511

 

1,544

 

1,511

 

1,544

 

International

107

 

108

 

107

 

108

 

IHOP

 

 

 

 

Summary - beginning of period:

 

 

 

 

Franchise

1,656

 

1,634

 

1,657

 

1,625

 

Area license

155

 

156

 

157

 

156

 

Total IHOP restaurants, beginning of period

1,811

 

1,790

 

1,814

 

1,781

 

 

 

 

 

 

Franchise/area license restaurants opened:

 

 

 

 

Domestic franchise

4

 

5

 

14

 

27

 

Domestic area license

 

 

1

 

2

 

International franchise

2

 

5

 

11

 

11

 

Total franchise/area license restaurants opened

6

 

10

 

26

 

40

 

Franchise/area license restaurants permanently closed:

 

 

 

 

Domestic franchise

(7

)

(5

)

(24

)

(23

)

Domestic area license

 

 

(3

)

(2

)

International franchise

(1

)

(1

)

(4

)

(2

)

Total franchise/area license restaurants permanently closed

(8

)

(6

)

(31

)

(27

)

Net increase (decrease) in franchise/area license restaurants

(2

)

4

 

(5

)

13

 

 

 

 

 

 

Summary - end of period:

 

 

 

 

Franchise

1,654

 

1,638

 

1,654

 

1,638

 

Area license

155

 

156

 

155

 

156

 

Total IHOP restaurants, end of period

1,809

 

1,794

 

1,809

 

1,794

 

Domestic

1,684

 

1,681

 

1,684

 

1,681

 

International

125

 

113

 

125

 

113

 

Dine Brands Global, Inc. and Subsidiaries

Restaurant Data

(Unaudited)

 

Restaurant Development Activity (continued)

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

Fuzzy's

 

Summary - beginning of period:

 

 

 

 

Franchise

124

 

137

 

131

 

134

 

Company

1

 

1

 

1

 

3

 

Beginning of period

125

 

138

 

132

 

137

 

 

 

 

 

 

Franchise restaurants opened:

 

 

 

 

Domestic

1

 

1

 

1

 

3

 

Franchise restaurants permanently closed:

 

 

 

 

Domestic

(7

)

(1

)

(14

)

(2

)

Net franchise restaurant addition (reduction)

(6

)

 

(13

)

1

 

Refranchised from Company restaurants

 

 

 

2

 

Net franchise restaurant addition (reduction)

(6

)

 

(13

)

3

 

 

 

 

 

 

Summary - end of period:

 

 

 

 

Franchise

118

 

137

 

118

 

137

 

Company

1

 

1

 

1

 

1

 

Total Fuzzy's restaurants, end of period

119

 

138

 

119

 

138

 

Domestic

119

 

138

 

119

 

138

 

International

 

 

 

 

The restaurant counts and activity presented above include 13 dual-branded international Applebee's and IHOP restaurants at September 30, 2024, and six dual-branded international Applebee’s and IHOP restaurants at September 30, 2023, which are tabulated in both brands’ activities. Dual-branded restaurants are defined as restaurants that run two of our concepts and share an entrance, front of the house staff and a kitchen.

The restaurant counts and activity presented above do not include one domestic Applebee's ghost kitchen (small kitchens with no store-front presence, used to fill off-premise orders), seven international Applebee's ghost kitchens and 34 international IHOP ghost kitchens at September 30, 2024, and one domestic Applebee's ghost kitchen, 10 international Applebee's ghost kitchens and 38 international IHOP ghost kitchens at September 30, 2023.

Investor Contact

Matt Lee

Sr. Vice President, Finance and Investor Relations

Dine Brands Global, Inc.

IR@dinebrands.com



Media Contact

Susan Nelson

Sr. Vice President, Global Communications

Dine Brands Global, Inc.

Mediainquiries@dinebrands.com

Source: Dine Brands Global, Inc.

FAQ

What were Dine Brands (DIN) Q3 2024 earnings per share?

Dine Brands reported GAAP earnings of $1.24 per diluted share and adjusted earnings of $1.44 per diluted share in Q3 2024.

How much did Applebee's same-store sales decline in Q3 2024?

Applebee's domestic comparable same-restaurant sales declined 5.9% in the third quarter of 2024.

What is Dine Brands' (DIN) revenue for Q3 2024?

Dine Brands reported total revenues of $195.0 million for the third quarter of 2024.

What is Dine Brands' (DIN) guidance for 2024 EBITDA?

Dine Brands expects consolidated adjusted EBITDA to range between $245 million and $255 million for 2024.

Dine Brands Global, Inc.

NYSE:DIN

DIN Rankings

DIN Latest News

DIN Stock Data

469.45M
15.30M
2.49%
96.77%
17.5%
Restaurants
Retail-eating Places
Link
United States of America
PASADENA