In This Article:
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Adjusted Free Cash Flow: $106.4 million in fiscal 2024, up from $103.3 million in 2023.
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Adjusted EBITDA: $239.8 million for fiscal 2024, down from $256.4 million in 2023. Q4 adjusted EBITDA was $50.1 million, compared to $62.2 million in Q4 2023.
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Total Revenue: $812.3 million for fiscal 2024, a decrease of 2.3% from the previous year. Q4 revenue was $204.8 million, down 0.7% from Q4 2023.
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IHOP Same-Store Sales: Decline of 2% for fiscal 2024, with a Q4 decline of 2.8%.
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Applebee's Same-Store Sales: Decline of 4.2% for fiscal 2024, with a Q4 decline of 4.7%.
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Adjusted Diluted EPS: $0.87 for Q4 2024 and $5.34 for the full year, compared to $1.40 and $6.65 in 2023, respectively.
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G&A Expenses: $52.3 million in Q4 2024, up from $50.5 million in Q4 2023. Full-year G&A expenses were $196.7 million, down from $198.1 million in 2023.
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Capital Expenditures: $14.1 million for fiscal 2024, compared to $37.2 million in 2023.
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Unrestricted Cash: $186.7 million at the end of Q4 2024, up from $169.6 million at the end of Q3 2024.
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System Sales: $8 billion for fiscal 2024.
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Applebee's Average Weekly Sales: $52,300 in 2024.
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IHOP Average Weekly Sales: $37,700 in 2024.
Release Date: March 05, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Dine Brands Global Inc (NYSE:DIN) generated $106.4 million in adjusted free cash flow for fiscal 2024, up from $103.3 million in the previous year, highlighting financial stability.
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The company took over 47 Applebee's restaurants from franchisees, planning to remodel 30 of them and convert five to a dual-brand concept, demonstrating confidence in brand growth.
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IHOP's loyalty program grew by over 30% in 2024, reaching over 10 million members, indicating strong customer engagement.
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The dual-brand concept, combining Applebee's and IHOP, showed promising results with the first U.S. location achieving sales three times higher than as a standalone IHOP.
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Dine Brands Global Inc (NYSE:DIN) plans to leverage its asset-light model to strategically take back and refranchise restaurants, aiming to enhance brand performance and franchisee success.
Negative Points
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Dine Brands Global Inc (NYSE:DIN) reported a decline in adjusted EBITDA to $239.8 million for 2024, down from $256.4 million in 2023, indicating financial challenges.
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Both IHOP and Applebee's experienced negative comp sales for the full year, with IHOP at -2% and Applebee's at -4.2%, reflecting decreased consumer spending.
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The company faced macroeconomic headwinds in 2024, significantly impacting consumer spending, particularly among households earning less than $75,000.
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Franchise revenues decreased by $8.7 million in Q4, contributing to a 0.7% decline in consolidated total revenues compared to the prior year.
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IHOP's commodity costs increased by 4.7% in Q4, driven by the avian influenza outbreak affecting egg pricing, posing a challenge to cost management.