DIN · Dine Brands Global, Inc.

Dine Brands Global reported first quarter 2026 results that showed revenue growth but a slight decline in GAAP net income. Total revenues increased to $225.2 million from $214.8 million in the prior year quarter, primarily driven by higher company-owned restaurant sales from acquisitions of franchisee restaurants. GAAP diluted EPS rose to $0.57 from $0.53, while adjusted diluted EPS increased to $1.07 from $1.03. Consolidated adjusted EBITDA decreased to $50.8 million from $54.7 million, reflecting higher G&A expenses of $53.1 million (up from $51.3 million) due to investments in dual-brand and company-owned initiatives. Applebee's domestic same-restaurant sales grew 1.9%, outperforming the Black Box benchmark, while IHOP's were flat. Off-premise sales accounted for 23.9% of Applebee's mix and 21.5% of IHOP's mix. The company generated $7.5 million in operating cash flow and negative $3.0 million in adjusted free cash flow, impacted by performance plan compensation payments. During the quarter, Dine Brands repurchased approximately $22 million of common stock and paid $2.5 million in dividends. Management reiterated its full-year 2026 guidance, including Applebee's and IHOP comp sales of 0% to 2%, consolidated adjusted EBITDA of $220 million to $230 million, and G&A expenses of $205 million to $210 million. The company also noted progress on dual-brand development, targeting approximately 80 domestic dual-branded restaurants by year-end. The effective tax rate decreased to 27.3% from 35.9% in the prior year quarter.