Dine Brands(US:DIN)2025-11-05 11:45Financial Performance - Dine Brands reported total revenues of $216.2 million for Q3 2025, an increase of 10.6% compared to $195.0 million in Q3 2024[11] - GAAP net income available to common stockholders for Q3 2025 was $7.0 million, or $0.48 per diluted share, down from $18.5 million, or $1.24 per diluted share in Q3 2024[11] - Adjusted net income available to common stockholders for Q3 2025 was $10.5 million, or $0.73 per diluted share, compared to $21.4 million, or $1.44 per diluted share in Q3 2024[11] - Consolidated adjusted EBITDA for Q3 2025 was $49.0 million, a decrease from $61.9 million in Q3 2024, reflecting higher G&A expenses and investments in restaurant remodels[11] - Total revenues for the first nine months of 2025 were $661.7 million, up from $607.5 million in the same period of 2024, driven by higher company-owned restaurant sales[10] - Net income for the nine months ended September 30, 2025, was $29,337,000, down from $59,716,000 in 2024, reflecting a decrease of 50.8%[31] - Adjusted free cash flow for the nine months ended September 30, 2025, was $68,159,000, down from $77,777,000 in the same period of 2024[36] Sales Performance - Applebee's domestic comparable same-restaurant sales increased by 3.1% year-over-year in Q3 2025, while IHOP's decreased by 1.5%[5][8] - Domestic same-restaurant sales for Applebee's increased by 3.1% in Q3 2025 compared to a decrease of 5.9% in Q3 2024[42] - IHOP's domestic same-restaurant sales decreased by 1.5% in Q3 2025, compared to a decrease of 2.1% in Q3 2024[42] - Total reported sales for Applebee's franchise restaurants decreased to $988.4 million in Q3 2025 from $1,007.7 million in Q3 2024, a decline of 1.3%[44] - IHOP franchise restaurant sales were $775.1 million in Q3 2025, down from $790.3 million in Q3 2024, representing a decrease of 1.5%[44] - Domestic same-restaurant sales percentage change for Q3 2025 was -1.5%, compared to -9.6% in Q3 2024[45] Expenses and Liabilities - G&A expenses for the first nine months of 2025 were $152.3 million, an increase from $144.4 million in the same period of 2024, primarily due to higher compensation-related costs[14] - The company reported total liabilities of $2,005,776,000 as of September 30, 2025, which remained relatively stable compared to $2,006,603,000 at the end of 2024[29] - Closure and impairment charges for the nine months ended September 30, 2025, were $7,613,000, compared to $1,442,000 in 2024[33] Cash Flow and Assets - Cash flows provided by operating activities for the first nine months of 2025 were $83.3 million, compared to $77.7 million in the same period of 2024[14] - Cash flows provided by operating activities for the nine months ended September 30, 2025, were $83,302,000, compared to $77,694,000 in 2024[36] - As of September 30, 2025, Dine Brands had total cash, cash equivalents, and restricted cash of approximately $251.1 million, with about $168.0 million being unrestricted cash[14] - The company’s cash and cash equivalents at the end of the period were $167,950,000, down from $186,650,000 at the end of 2024, a decrease of 10.1%[29] Shareholder Actions - Dine Brands plans to repurchase at least $50 million of shares over the next two quarters as part of its updated capital return framework[18] - The company repurchased $30,102,000 of common stock during the nine months ended September 30, 2025, compared to $12,000,000 in the same period of 2024[31] - The diluted net income available to common stockholders per share for Q3 2025 was $0.73, down from $1.44 in Q3 2024[33] Restaurant Count and Operations - Total effective restaurants for Applebee's decreased to 1,560 in Q3 2025 from 1,620 in Q3 2024[42] - The total number of Applebee's restaurants decreased from 1,625 at the beginning of Q3 2024 to 1,571 by the end of Q3 2025, a net reduction of 54 restaurants[47] - IHOP's total restaurant count decreased from 1,811 at the beginning of Q3 2024 to 1,803 by the end of Q3 2025, reflecting a net reduction of 8 restaurants[49] - Fuzzy's total restaurant count remained stable at 109 by the end of Q3 2025, down from 119 at the beginning of Q3 2024[49] - Franchise restaurants permanently closed totaled 5 in Q3 2025, compared to 11 in Q3 2024[47] - The company acquired 12 Applebee's restaurants in May 2025, impacting the overall franchise count[45] - Domestic sales percentage change for franchise restaurants was -6.5% in Q3 2025, compared to -15.8% in Q3 2024[43]