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Jun 30, 2022
Dine Brands Q2 2022 Earnings Report
Dine Brands reported a solid performance in Q2 2022, driven by positive comparable restaurant sales and sustained off-premise traffic.
Key Takeaways
Dine Brands Global, Inc. announced its financial results for the second quarter of fiscal 2022. The company reported total revenues of $237.8 million, an increase compared to $233.6 million for the second quarter of 2021. Applebee’s and IHOP both achieved positive comparable sales, with average weekly sales exceeding pre-pandemic levels.
Applebee’s year-over-year comparable same-restaurant sales increased 1.8%.
IHOP’s year-over-year comparable same-restaurant sales increased 3.6%.
Consolidated adjusted EBITDA was $66.1 million compared to $71.7 million for the second quarter of 2021.
The Company repurchased 912,992 shares of its common stock for approximately $61 million.
Dine Brands
Dine Brands
Dine Brands Revenue by Segment
Revenue by Segment
Company Restaurant Sales Revenue
CapyFin.com Forward Guidance
The Company reiterates its fiscal 2022 guidance:
Positive Outlook
- Domestic development activity by IHOP franchisees and area licensees to result in net new openings between 50 and 65 restaurants.
- Consolidated adjusted EBITDA to range between approximately $235 million and $250 million. This range is inclusive of adjusted EBITDA related to the company restaurants segment.
- General and administrative expenses to range between approximately $188 million and $198 million, including non-cash stock-based compensation expense and depreciation of approximately $30 million. This range reflects incremental investments in technology and operational initiatives as well as unit development and is inclusive of general and administrative expenses related to the company restaurants segment.
- Capital expenditures to range between $33 million and $38 million, reflecting incremental investments in the business to support sustainable growth.
Challenges Ahead
- Domestic development activity by Applebee’s franchisees to result in between 5 and 15 net fewer restaurants.