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Mar 31, 2025
Dine Brands Q1 2025 Earnings Report
Dine Brands Global, Inc. reported its first quarter 2025 financial results, showing a decrease in net income and adjusted EBITDA compared to the prior year, despite an increase in total revenues.
Key Takeaways
Dine Brands Global, Inc. reported total revenues of $214.8 million for the first quarter of 2025, an increase from $206.2 million in the prior year, primarily due to the acquisition of 47 Applebee's restaurants. However, net income available to common stockholders decreased to $7.8 million from $17.0 million, and adjusted EBITDA declined to $54.7 million from $60.8 million. Both Applebee's and IHOP experienced declines in domestic comparable same-restaurant sales.
Total revenues increased to $214.8 million in Q1 2025, up from $206.2 million in Q1 2024, mainly due to the acquisition of 47 Applebee's restaurants.
Net income available to common stockholders decreased significantly to $7.8 million ($0.53 per diluted share) in Q1 2025, compared to $17.0 million ($1.13 per diluted share) in Q1 2024.
Adjusted EBITDA for Q1 2025 was $54.7 million, a decrease from $60.8 million in Q1 2024.
Domestic comparable same-restaurant sales declined for both Applebee's (-2.2%) and IHOP (-2.7%) in Q1 2025.
Revenue by Segment
Forward Guidance
Dine Brands Global, Inc. reiterated its fiscal year 2025 guidance, expecting mixed performance across its brands and continued investment in development and operations.
Positive Outlook
- Applebee's domestic system-wide comparable same-restaurant sales are expected to range between negative 2% and positive 1%.
- IHOP's domestic system-wide comparable same-restaurant sales are expected to range between negative 1% and positive 2%.
- Consolidated adjusted EBITDA is expected to range between approximately $235 million and $245 million.
- G&A expenses are expected to range between approximately $200 million and $205 million, including non-cash stock-based compensation and depreciation.
- Capital expenditures are expected to range between approximately $20 million and $30 million.
Challenges Ahead
- Applebee's domestic development activity for franchisees is expected to result in between 20 and 35 net fewer restaurants.
- IHOP's domestic development activity for franchisees and area licensees is expected to result in between 10 net fewer restaurants and 10 net new openings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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