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Mar 31
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.
Dine Brands
Dine Brands
Dine Brands Revenue by Segment
Revenue by Segment
Franchise Revenues Revenue
CapyFin.comCompany Restaurant Sales Revenue
CapyFin.comRental Revenues Revenue
CapyFin.comFinancing Revenues Revenue
CapyFin.com 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.
- The company does not provide forward-looking guidance for GAAP net income due to the unpredictability of certain items like closure and impairment charges, and other non-income-based taxes.
- Consumer price sensitivity is expected to continue impacting performance.
- The guidance for both Applebee's and IHOP comparable sales includes potential negative growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income