Dine Brands Global Inc.
05/06/2026 | Press release | Distributed by Public on 05/06/2026 13:21
Amendment to Current Report (Form 8-K/A)
News Release
Investor Contact
Matt Lee
Sr. Vice President, Finance and Investor Relations
Dine Brands Global, Inc.
Media Contact
Susan Nelson
Sr. Vice President, Global Communications
Dine Brands Global, Inc.
CORRECTING and REPLACING Dine Brands Global, Inc. Reports First Quarter 2026 Results
PASADENA, Calif., May 6, 2026 - Dine Brands Global, Inc. (NYSE: DIN) (the "Company" or "Dine Brands"), the parent company of Applebee's Neighborhood Grill + Bar®, IHOP® and Fuzzy's Taco Shop® restaurants, today announced financial results for the first quarter of fiscal year 2026.
"Dine Brands reported improved comp sales versus the prior year with all brands outperforming Black Box, driven by our focus on everyday value, culturally relevant marketing, and disciplined execution," said John Peyton, Chief Executive Officer of Dine Brands. "We're confident in the progress of our strategy and continue to make great progress on our dual brand opportunity where we remain on track to achieve approximately 80 domestic restaurants by the end of the year."
Vance Chang, Chief Financial Officer of Dine Brands, added, "Our continued investment in dual brand development, remodels, and our company owned portfolio is driven by the positive feedback from our franchisees and our guests. Our asset lite model allows us to fund long term value creation initiatives while providing support to our franchisees and returning capital to shareholders concurrently. We remain committed to our capital allocation priorities."
Domestic Restaurant Sales for the First Quarter of 2026
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Applebee's year-over-year comparable domestic same-restaurant sales increased 1.9% for the first quarter of 2026. Off-premise sales accounted for 23.9% of sales mix in the first quarter of 2026. |
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IHOP's year-over-year domestic comparable same-restaurant sales remained flat for the first quarter of 2026. Off-premise sales accounted for 21.5% of sales mix in the first quarter of 2026. |
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First Quarter of 2026 Summary
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Total revenues for the first quarter of 2026 were $225.2 million compared to $214.8 million for the first quarter of 2025. The increase was primarily driven by higher company-owned restaurant sales, mainly attributable to the increase in the number and timing of when we acquired restaurants from franchisees. |
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General and Administrative ("G&A") expenses for the first quarter of 2026 were $53.1 million compared to $51.3 million for the first quarter of 2025. The increase was driven by employee costs as we invest in our dual-brand and company-owned restaurant initiatives. |
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Net income available to common stockholders was $7.2 million, or earnings per diluted share of $0.57, for the first quarter of 2026 compared to net income available to common stockholders of $7.8 million, or earnings per diluted share of $0.53 for the first quarter of 2025. |
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Non-GAAP adjusted net income1 available to common stockholders was $11.1 million, or adjusted earnings per diluted share of $0.88, for the first quarter of 2026, compared to adjusted net income available to common stockholders of $15.4 million, or adjusted earnings per diluted share of $1.03, for the first quarter of 2025. |
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Income before income taxes for the first quarter of 2026 was $10.1 million compared to income before income taxes of $12.8 million for the first quarter of 2025. |
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Consolidated adjusted EBITDA2 for the first quarter of 2026 was $50.8 million compared to $54.7 million for the first quarter of 2025. |
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Cash flows provided by operating activities for the first quarter of 2026 were $7.5 million. This compares to cash flows provided by operating activities of $16.1 million for the first quarter of 2025. The decrease was primarily due to the year over year impact of performance plan compensation payments. |
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Adjusted free cash flow3 was negative $3.0 million for the first quarter of 2026. This compares to adjusted free cash flow of $14.6 million for the first quarter of 2025. |
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Development activity by Applebee's and IHOP for the first quarter of 2026 resulted in 24 new restaurant openings and 40 restaurant closures. |
Effective Tax Rate
The Company's effective tax rate was 27.3% for the three months ended March 29, 2026, as compared to 35.9% for the three months ended March 30, 2025.
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See "Non-GAAP Financial Measures" for reconciliation of GAAP net income (loss) available to common stockholders to adjusted net income available to common stockholders. |
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See "Non-GAAP Financial Measures" for reconciliation of GAAP net income (loss) to consolidated adjusted EBITDA. |
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See "Non-GAAP Financial Measures" for reconciliation of the Company's cash flows provided by operating activities to adjusted free cash flow. |
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Key Balance Sheet Metrics (as of March 29, 2026)
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Total cash, cash equivalents and restricted cash of approximately $172.9 million, of which approximately $104.2 million was unrestricted cash. |
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Available borrowing capacity under the 2025 Variable Funding Senior Notes, Class A-1 is approximately $225 million. |
Capital Returns to Equity Holders
During the first quarter of 2026, the Company repurchased approximately $22 million of its common stock and paid approximately $2.5 million in dividends.
Financial Performance Guidance for 2026
The Company reiterated its fiscal 2026 guidance items:
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Applebee's domestic system-wide comparable same-restaurant sales performance is expected to range between 0% and 2%. |
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IHOP's domestic system-wide comparable same-restaurant sales performance is expected to range between 0% and 2%. |
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Domestic development activity for Applebee's is expected to be between 15 and 5 net fewer restaurants. |
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Domestic development activity for IHOP is expected to be between 10 net fewer restaurants and 10 net new openings. |
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Our domestic development activity includes at least 50 domestic dual-branded openings, primarily driven by franchisees. |
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Consolidated adjusted EBITDA is expected to range between approximately $220 million and $230 million. Our outlook reflects the positive trends in our franchise business and modest improvement in our company-owned restaurants which is based on our existing portfolio. |
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G&A expenses are expected to range between approximately $205 million and $210 million. This total includes non-cash stock-based compensation expense and depreciation of approximately $35 million. |
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Capital expenditures are expected to range between approximately $25 million and $35 million. |
Dine Brands does not provide forward-looking guidance for GAAP net income because it is unable to predict certain items contained in the GAAP measure without unreasonable efforts. These items may include closure and impairment charges, loss on extinguishment of debt, gain or loss on disposition of assets, other non-income-based taxes and other items deemed not reflective of current operations.
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First Quarter of 2026 Earnings Conference Call Details
Dine Brands will host a conference call to discuss its results on May 6, 2026, at 11:00 a.m. Eastern time. A live webcast of the call, along with a replay will be available for a limited time at https://investors.dinebrands.com. Participants should allow approximately ten minutes prior to the call's start time to visit the site and download any streaming media software needed to listen to the webcast. An online archive of the webcast will also be available on Events & Presentations under the Investors section of the Company's website.
About Dine Brands Global, Inc.
Based in Pasadena, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries and franchisees, supports and operates restaurants under the Applebee's Neighborhood Grill + Bar®, IHOP®, and Fuzzy's Taco Shop® brands. As of March 29, 2026, these three brands comprised nearly 3,500 restaurants across 19 international markets. Dine Brands is one of the largest full-service restaurant companies in the world and in 2022 expanded into the Fast Casual segment. For more information on Dine Brands, visit the Company's website located at www.dinebrands.com.
Dine Brands Global Inc. published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 06, 2026 at 19:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]