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Jun 30
Dine Brands Q2 2025 Earnings Report
Dine Brands Global, Inc. reported its financial results for the second quarter of fiscal year 2025, showing an increase in total revenues primarily due to company restaurant sales, despite decreases in franchise and rental revenues. The company also completed a refinancing transaction to strengthen its capital structure.
Key Takeaways
Dine Brands Global, Inc. reported mixed results for the second quarter of 2025. Total revenues increased to $230.8 million, driven by company restaurant sales from recent acquisitions. However, GAAP net income and adjusted net income decreased compared to the prior year, primarily due to lower segment profit and higher general and administrative expenses. Applebee's saw positive comparable same-restaurant sales growth, while IHOP experienced a decline.
Total revenues for Q2 2025 increased to $230.8 million, up from $206.3 million in Q2 2024, mainly due to an increase in company restaurant sales from acquisitions.
GAAP net income available to common stockholders decreased to $13.2 million ($0.89 per diluted share) in Q2 2025, down from $22.5 million ($1.50 per diluted share) in Q2 2024.
Adjusted net income available to common stockholders was $17.4 million ($1.17 per diluted share) in Q2 2025, compared to $25.6 million ($1.71 per diluted share) in Q2 2024.
Applebee’s domestic comparable same-restaurant sales increased by 4.9%, while IHOP’s domestic comparable same-restaurant sales declined by 2.3% for the second quarter of 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. updated its fiscal year 2025 guidance, reflecting further investment in the business to accelerate development opportunities and strengthen its company-owned portfolio. This includes revised expectations for comparable same-restaurant sales for Applebee's and IHOP, as well as updated ranges for consolidated adjusted EBITDA, G&A expenses, and capital expenditures.
Positive Outlook
- Applebee’s domestic system-wide comparable same-restaurant sales performance is now expected to range between positive 1% and positive 3%, an improvement from previous guidance.
- The company is further investing in the business to accelerate development opportunities.
- Strategic investments are aimed at strengthening the company-owned portfolio.
- The refinancing transaction completed in Q2 2025 strengthens the capital structure and enhances financial flexibility.
- The company remains committed to delivering shareholder value through sustained financial performance.
Challenges Ahead
- IHOP’s domestic system-wide comparable same-restaurant sales performance is now expected to range between negative 1% and positive 1%, a slight reduction at the upper end of the previous guidance.
- Consolidated adjusted EBITDA is expected to range between approximately $220 million and $230 million, a decrease from the previous guidance of $235 million to $245 million.
- General and administrative (G&A) expenses are expected to range between approximately $205 million and $210 million, an increase from the previous guidance of $200 million to $205 million.
- Capital expenditures are expected to range between approximately $30 million and $40 million, an increase from the previous guidance of $20 million to $30 million.
- Domestic development activity by Applebee’s franchisees is expected to result in 20 to 35 net fewer restaurants.
Revenue & Expenses
Visualization of income flow from segment revenue to net income