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Dec 31, 2022
Dine Brands Q4 2022 Earnings Report
Reported solid quarterly comparable sales for Applebee's and IHOP, expanded into the fast-casual segment with the acquisition of Fuzzy's Taco Shop, and returned over $151 million to shareholders while retiring $40 million of long-term debt.
Key Takeaways
Dine Brands Global, Inc. reported fourth-quarter results with total revenues of $208.0 million and adjusted earnings per diluted share of $1.34. Applebee's and IHOP showed positive comparable sales growth. The company also acquired Fuzzy's Taco Shop and returned capital to shareholders.
Applebee’s year-over-year comparable same-restaurant sales increased 1.7%.
IHOP’s year-over-year domestic comparable same-restaurant sales increased 2.0%.
Total revenues for the fourth quarter of 2022 were $208.0 million.
Adjusted earnings per diluted share of $1.34 for the fourth quarter of 2022.
Revenue by Segment
Forward Guidance
The Company introduced its fiscal 2023 guidance items:
Positive Outlook
- Domestic development activity by IHOP franchisees and area licensees is now expected to be between 45 and 60 net new openings.
- Consolidated adjusted EBITDA is expected in the range of between approximately $243 million and $255 million.
- G&A expenses are expected to range between approximately $200 million and $210 million, due to some of our planned 2022 G&A investments extended into 2023 given the disruptions caused by the pandemic last year and other organic investments, including Fuzzy’s.
- This range includes non-cash stock-based compensation expense and depreciation of approximately $30 million.
- Gross capital expenditures are expected to range between $33 million and $38 million.
Challenges Ahead
- Domestic development activity by Applebee’s franchisees of between 10 and 20 net fewer restaurants.
- Domestic development activity by Applebee’s franchisees of between 10 and 20 net fewer restaurants.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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