Q2 2024 Dine Brands Global Inc Earnings Call Transcript
Key Points
- Dine Brands Global Inc (DIN) maintained strong bottom-line performance despite a pullback in top-line growth due to economic challenges.
- The company has a solid asset-light model and strong cash flow, with improved year-over-year margins and steady leverage.
- Applebee's saw an improvement in comp sales and traffic versus Q1, driven by successful promotions and menu innovations.
- IHOP's guest satisfaction scores increased by 8%, outperforming peers, and the brand saw strong demand for its retail products.
- Dine Brands Global Inc (DIN) continues to return capital to shareholders, repurchasing $6 million in shares and paying $7.9 million in dividends in Q2 2024.
- Dine Brands Global Inc (DIN) experienced a 1% decline in Q2 revenue compared to the same quarter last year.
- Applebee's reported negative 1.8% comp sales, and IHOP reported negative 1.4% comp sales, reflecting challenging industry headwinds.
- The company revised its full-year financial and development guidance downward due to ongoing market pressures.
- Franchise revenues decreased by 0.8% to $176.5 million, primarily driven by a decrease in advertising revenue.
- The development of new IHOP restaurants faced delays, leading to a revised guidance of zero to 10 net new domestic restaurants, down from the previously expected 15 to 25.
Please standby for live streaming. .
Good day and thank you for standing by. Welcome to the Dine Brands second quarter earnings conference Call. At this time, all participants are in listen only mode. After the speakers' presentation, there will be a question and answer session to ask a question.
During this session, you'll need to press star one on your telephone. You'll then hear automated messages. Raising your hand is raised. To withdraw your question, please press star one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Matt White, Senior Vice President, Finance and Investor Relations. Please go ahead.
Good morning, and welcome to Dine Brands Global second quarter Fiscal 2024 conference call. This morning's call will include prepared remarks from John Payne, CEO, advanced Chang, CFO, followed those prepared remarks, Tony
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