Introducing Fuzzy's Taco Shop's new Primo Baja menu category. Embracing the essence of Baja cuisine, the new Primo Baja category boasts items that encapsulate the vibrant and fresh spirit of the Mexican peninsula. (Photo: Business Wire)Introducing Fuzzy's Taco Shop's new Primo Baja menu category. Embracing the essence of Baja cuisine, the new Primo Baja category boasts items that encapsulate the vibrant and fresh spirit of the Mexican peninsula. (Photo: Business Wire)IRVING, Texas--(BUSINESS WIRE)--Fuzzy’s ...

NEW YORK--(BUSINESS WIRE)--Emplifi, a leading customer engagement platform, today announced it has significantly improved guest recovery workflows across social channels and integrated Google Reviews for Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill + Bar®, IHOP®, and Fuzzy’s Taco Shop® restaurants. After managing messages from guests directly in the Facebook app – without the ability to respond, monitor, or measure guest interactions from a single dashboard – Din ...

PASADENA, Calif.--(BUSINESS WIRE)--Sip your way into the St. Patrick’s Day spirit at Applebee’s with the return of its festive and refreshing Saintly Sips™! Now for a limited time, guests can celebrate and raise a glass of the $5 Tipsy Leprechaun and the NEW $7 Pot O’ Gold Daq-A-Rita made with premium spirits. A bright green clover cocktail, the Tipsy Leprechaun is a top shelf tea made with Jameson Irish Whiskey, melon liqueur, blue curaçao, premium lemon sour, lemon-lime soda, and a gold sugar rim. Or s ...

PASADENA, Calif.--(BUSINESS WIRE)--Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar®, IHOP® and Fuzzy’s Taco Shop® restaurants, will announce its fourth quarter 2023 financial results on February 28, 2024, before the stock market opens. In conjunction with this announcement, Dine Brands will also host a conference call at 9:00 a.m. (Eastern Time) that morning to discuss the Company’s financial results and business outlook. A live webcast of the call will be a ...

IRVING, Texas--(BUSINESS WIRE)--Fuzzy’s Taco Shop has been recognized as one of the top 500 franchises in Entrepreneur’s Franchise 500®, the world’s first and most comprehensive franchise ranking. For 45 years, the annual Entrepreneur Franchise 500® has been a highly sought-after honor in the franchise industry and recognized as an invaluable resource for potential franchisees. The 2024 Franchise 500® ranks Fuzzy’s Taco Shop as #434 for its outstanding performance in areas including unit growth, financia ...

PASADENA, Calif.--(BUSINESS WIRE)--Today, IHOP® announced the launch of Stacking Up Joy, a nationwide platform designed to bring people together in the communities its restaurants serve. Giving back to others on a national and local scale is part of IHOP's 65-year-old heritage, from supporting people experiencing food insecurity to the many individual franchise efforts in supporting smiles. IHOP’s Stacking Up Joy is a brand-wide effort sustained at every level of the business. To kick-off the Stacking Up ...

PASADENA, Calif.--(BUSINESS WIRE)--IHOP continues its breakfast innovation journey with the launch of its Pancake of the Month program. Pancake of the Month is a new way for guests to enjoy the world-famous IHOP pancakes they know and love in unique, craveable flavor combinations for a limited time each month. Starting on Thursday, February 1 – and on the first of every following month – a new flavor will be available as a full stack, side, or as part of a pancake combo for the calendar month. “IHOP is t ...

Dine Brands Global, Inc. (NYSE:DIN) Q3 2023 Earnings Conference Call November 1, 2023 9:00 AM ET Company Participants Brett Levy - Vice President of Investor Relations & Treasury John Peyton - Chief Executive Officer Vance Chang - Chief Financial Officer Tony Moralejo - President of Applebee's Jay Johns - President of IHOP Conference Call Participants Eric Gonzalez - KeyBanc Capital Markets Jake Bartlett - Truist Securities Jeffrey Bernstein - Barclays Nick Setyan - Wedbush Brian Vaccaro - Raymond James Tod ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201%E2%80%94Financial%20Statements) This section presents Dine Brands Global, Inc.'s unaudited consolidated financial statements as of September 30, 2023, covering balance sheets, income, and cash flows [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet as of September 30, 2023, shows decreased total assets and liabilities, alongside an improved stockholders' deficit Consolidated Balance Sheet Highlights (in thousands) | Account | September 30, 2023 (Unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $263,801 | $479,764 | | **Total Assets** | **$1,659,581** | **$1,881,491** | | **Total Current Liabilities** | $384,337 | $470,722 | | **Total Liabilities** | **$1,933,287** | **$2,182,575** | | **Total Stockholders' Deficit** | **($273,706)** | **($301,084)** | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Total revenues decreased in Q3 and for the nine months ended September 30, 2023, primarily due to refranchising, impacting net income Q3 2023 vs Q3 2022 Financial Performance (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Total Revenues | $202,584 | $233,220 | | Gross Profit | $97,298 | $94,331 | | Net Income | $18,479 | $20,948 | | Diluted EPS | $1.19 | $1.32 | Nine Months 2023 vs 2022 Financial Performance (in thousands, except per share data) | Metric | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | | Total Revenues | $624,766 | $701,437 | | Gross Profit | $298,256 | $282,779 | | Net Income | $64,137 | $69,760 | | Diluted EPS | $4.09 | $4.22 | [Consolidated Statements of Stockholders' Deficit](index=7&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Deficit) The stockholders' deficit improved for the nine months ended September 30, 2023, driven by net income, despite dividends and share repurchases - For the nine months ended September 30, 2023, the company recorded net income of **$64.1 million**, repurchased **318,356 shares** of common stock for **$20.0 million**, and paid dividends on common stock amounting to **$23.7 million**[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased, but significant debt repayment led to substantial cash usage in financing, reducing the cash balance Cash Flow Summary - Nine Months Ended Sep 30 (in thousands) | Cash Flow Category | 2023 | 2022 | | :--- | :--- | :--- | | **Cash flows provided by operating activities** | **$79,306** | **$63,490** | | Cash flows used in investing activities | ($26,632) | ($3,409) | | Cash flows used in financing activities | ($218,029) | ($61,229) | | **Net change in cash, cash equivalents and restricted cash** | **($165,355)** | **($1,148)** | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) These notes detail accounting policies, revenue recognition, long-term debt refinancing, segment reporting, and capital allocation - Franchise revenue for the nine months ended Sep 30, 2023, increased to **$530.4 million** from **$494.4 million** in the prior year, driven by royalties and advertising fees[39](index=39&type=chunk) - In April 2023, the company completed a refinancing, issuing **$500 million** of **7.824% Fixed Rate Senior Secured Notes** to repay the outstanding balance of its 2019 Class A-2-I Notes[64](index=64&type=chunk) - The company's Debt Service Coverage Ratio (DSCR) was approximately **3.7x** as of September 30, 2023, well above the covenant threshold of **1.75x** that would trigger a Cash Flow Sweeping Event[83](index=83&type=chunk)[85](index=85&type=chunk) - The Board of Directors authorized a new share repurchase program of up to **$250 million** in February 2022. During the nine months ended September 30, 2023, the company repurchased **318,356 shares** for **$20.0 million**[98](index=98&type=chunk)[99](index=99&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202%E2%80%94Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses performance, highlighting revenue decrease from refranchising, increased gross profit, mixed KPIs, and a healthy liquidity position [Key Performance Indicators](index=32&type=section&id=Key%20Performance%20Indicators) Q3 2023 performance indicators showed mixed results, with Applebee's sales declining and IHOP's increasing, alongside changes in restaurant count Domestic System-Wide Same-Restaurant Sales % Change (2023 vs. 2022) | Brand | Q3 2023 | Nine Months 2023 | | :--- | :--- | :--- | | Applebee's | (2.4)% | 0.9% | | IHOP | 2.0% | 4.2% | Net Franchise Restaurant Development (Year-to-Date 2023) | Brand | Net Change | | :--- | :--- | | Applebee's | (26) | | IHOP | 13 | - Applebee's off-premise sales represented **21.5%** of its sales mix in Q3 2023, down from **24.2%** in Q3 2022. IHOP's off-premise sales mix was **19.5%** in Q3 2023, down from **20.4%** in the prior-year quarter[152](index=152&type=chunk)[155](index=155&type=chunk) [Consolidated Results of Operations](index=38&type=section&id=Consolidated%20Results%20of%20Operations) Total revenue decreased due to refranchising, but gross profit increased, while G&A and net interest expenses rose Gross Profit by Segment - Nine Months Ended Sep 30 (in millions) | Segment | 2023 | 2022 | Variance | | :--- | :--- | :--- | :--- | | Franchise operations | $271.6 | $253.8 | $17.8 | | Rental operations | $24.9 | $21.1 | $3.8 | | Company restaurant operations | $0.0 | $5.4 | ($5.4) | | Financing operations | $1.7 | $2.5 | ($0.8) | | **Total gross profit** | **$298.3** | **$282.8** | **$15.4** | - G&A expenses for the nine months ended September 30, 2023 increased by **$15.6 million** (**11.8%**) compared to the prior year, partly due to **$4.3 million** in expenses related to the newly acquired Fuzzy's brand and costs from stopping the IHOP Flip'd initiative[185](index=185&type=chunk)[186](index=186&type=chunk) - Net interest expense for the nine months ended September 30, 2023 increased to **$51.5 million** from **$46.2 million** in the prior year, driven by higher interest rates on refinanced debt and credit facility borrowings[188](index=188&type=chunk)[191](index=191&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains adequate liquidity with a strong debt service coverage ratio, returning capital via dividends and share repurchases - As of September 30, 2023, the company's leverage ratio was approximately **4.6x**, below the **5.25x** threshold that would require quarterly principal payments on its Class A-2 Notes[199](index=199&type=chunk) - The company's DSCR for the reporting period was approximately **3.7x**, significantly above the **1.75x** level that would trigger a Cash Flow Sweeping Event[204](index=204&type=chunk)[205](index=205&type=chunk) Adjusted Free Cash Flow - Nine Months Ended Sep 30 (in millions) | Component | 2023 | 2022 | | :--- | :--- | :--- | | Cash flows provided by operating activities | $79.3 | $63.5 | | Principal receipts from notes and equipment contracts | $6.7 | $8.4 | | Net additions to property and equipment | ($32.0) | ($19.5) | | **Adjusted free cash flow** | **$54.0** | **$52.4** | [Quantitative and Qualitative Disclosures about Market Risk](index=41&type=section&id=Item%203%E2%80%94Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) There were no material changes to the market risk information previously disclosed in the company's 2022 Annual Report on Form 10-K - There were no material changes from the market risk information contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2022[225](index=225&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204%E2%80%94Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - Based on an evaluation by management, the CEO and CFO concluded that the Company's disclosure controls and procedures are effective at a reasonable assurance level as of September 30, 2023[226](index=226&type=chunk) - No changes occurred in the Company's internal control over financial reporting during the third fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[227](index=227&type=chunk) [PART II. OTHER INFORMATION](index=43&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=43&type=section&id=Item%201%E2%80%94Legal%20Proceedings) The company is involved in various lawsuits and claims in the ordinary course of business, none expected to have a material adverse impact - The company is subject to various lawsuits and claims in the ordinary course of business but does not presently believe any will have a material adverse impact[229](index=229&type=chunk) [Risk Factors](index=43&type=section&id=Item%201A%E2%80%94Risk%20Factors) There have been no material changes from the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K - There are no material changes from the risk factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022[230](index=230&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202%E2%80%94Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's stock repurchase activity during Q3 2023, with $151.3 million remaining available under the program Q3 2023 Share Repurchase Activity | Period | Shares Purchased (Public Plan) | Average Price Paid (in US dollars) | | :--- | :--- | :--- | | July 3 - July 30, 2023 | 34,553 | $57.92 | | July 31 - Aug 27, 2023 | 34,237 | $58.24 | | Aug 28 - Oct 1, 2023 | 37,074 | $53.94 | | **Total** | **105,864** | **$56.65** | - As of October 1, 2023, approximately **$151.3 million** remained available for purchase under the company's **$250 million** share repurchase program authorized in February 2022[231](index=231&type=chunk) [Defaults Upon Senior Securities](index=43&type=section&id=Item%203%E2%80%94Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[232](index=232&type=chunk) [Mine Safety Disclosures](index=43&type=section&id=Item%204%E2%80%94Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[233](index=233&type=chunk) [Other Information](index=43&type=section&id=Item%205%E2%80%94Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 trading plans during the third quarter of 2023 - During the fiscal quarter ended September 30, 2023, no directors or officers adopted, modified, or terminated a Rule 10b5-1 trading plan or other non-Rule 10b5-1 trading arrangement[234](index=234&type=chunk) [Exhibits](index=44&type=section&id=Item%206%E2%80%94Exhibits) This section lists the exhibits filed with the quarterly report, including CEO and CFO certifications and XBRL data

Dine Brands Global, Inc. (NYSE:DIN) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants John Peyton – Chief Executive Officer Vance Chang – Chief Financial Officer Tony Moralejo – President of Applebee's Jay Johns – President of IHOP Brett Levy – Vice President of Investor Relations and Treasury Conference Call Participants Eric Gonzalez – KeyBanc Jake Bartlett – Truist Securities Todd Brooks – The Benchmark Company Nick Setyan – Wedbush Brian Mullan – Piper Sandler Andrew Wolf – ...