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Dec 31, 2024
Dine Brands Q4 2024 Earnings Report
Dine Brands reported a decline in revenue and net income in Q4 2024, impacted by lower same-restaurant sales.
Key Takeaways
Dine Brands reported Q4 2024 revenue of $204.8 million, a slight decline from the previous year due to lower franchise revenues. GAAP net income fell significantly to $5.0 million, driven by lower segment profit and increased impairment charges. Adjusted net income was $12.9 million, and adjusted EBITDA was $50.1 million. The company announced cautious 2025 guidance amid ongoing market volatility.
Q4 2024 revenue declined to $204.8 million from $206.3 million in Q4 2023.
GAAP net income fell to $5.0 million from $32.3 million in Q4 2023.
Adjusted net income was $12.9 million, and adjusted EBITDA reached $50.1 million.
Applebee’s and IHOP both reported negative same-restaurant sales growth of 4.7% and 2.8%, respectively.
Revenue by Segment
Forward Guidance
Dine Brands expects continued market volatility in 2025, with Applebee’s and IHOP same-restaurant sales ranging from slight declines to modest growth. Adjusted EBITDA is projected between $235 million and $245 million.
Positive Outlook
- Applebee’s and IHOP same-restaurant sales are projected to stabilize within -2% to +2% range in 2025.
- Consolidated adjusted EBITDA forecasted between $235 million and $245 million.
- G&A expenses expected to be controlled at $200 million to $205 million.
- Planned capital expenditures between $20 million and $30 million.
- Company remains committed to shareholder returns with dividends and share repurchases.
Challenges Ahead
- Applebee’s and IHOP both reported declining same-restaurant sales in Q4 2024.
- Franchise revenues continue to be pressured by weak consumer demand.
- Closure and impairment charges increased significantly year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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