Dine Brands Global Delivers Mixed Results in Q4 and FY 2024

Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar®, IHOP®, and Fuzzy's Taco Shop® restaurants, recently announced its fourth quarter and fiscal year 2024 results. The company reported mixed results, with some positive trends and challenges to overcome.



Fourth Quarter and Fiscal Year 2024 Summary

* Total revenues for the fourth quarter of 2024 were $206.3 million, compared to $206.14 million in the fourth quarter of 2023, a slight increase.
* General and Administrative ("G&A") expenses for the fourth quarter of 2024 were $45.4 million, compared to $48.6 million in the fourth quarter of 2023, a decrease of $3.2 million.
* GAAP net income available to common stockholders was $18.5 million, or earnings per diluted share of $1.24, for the fourth quarter of 2024, compared to net income available to common stockholders of $18.0 million, or earnings per diluted share of $1.19, for the fourth quarter of 2023, an increase of $0.5 million.
* Adjusted net income available to common stockholders was $21.4 million, or adjusted earnings per diluted share of $1.44, for the fourth quarter of 2024, compared to adjusted net income available to common stockholders of $22.3 million, or adjusted earnings per diluted share of $1.46, for the fourth quarter of 2023, a decrease of $0.9 million.
* Consolidated adjusted EBITDA for the fourth quarter of 2024 was $61.9 million, compared to $60.6 million for the fourth quarter of 2023, an increase of $1.3 million.

Key Takeaways

* Dine Brands Global's total revenues remained relatively stable in the fourth quarter of 2024 compared to the same period in 2023.
* The company's G&A expenses decreased, contributing to an increase in GAAP net income available to common stockholders.
* Adjusted net income available to common stockholders and consolidated adjusted EBITDA both increased slightly, indicating improved profitability.
* The company's comparable same-restaurant sales trends varied across its brands, with Applebee's and IHOP experiencing declines in sales growth.

In conclusion, Dine Brands Global's fourth quarter and fiscal year 2024 results showed mixed performance, with some positive trends and challenges to overcome. The company's total revenues remained stable, while its profitability improved slightly. However, the company's comparable same-restaurant sales trends varied across its brands, indicating the need for continued focus on driving traffic and improving top-line performance. As an investor, it is essential to monitor the company's progress and assess its strategic initiatives to determine the best course of action.