Q3 2024 Dine Brands Global Inc Earnings Call Transcript
Key Points
- Dine Brands Global Inc (DIN) reported an increase in adjusted EBITDA by $1.3 million to $61.9 million in Q3 compared to Q3 2023.
- The company has a strong pipeline of promotions, marketing campaigns, and menu innovations planned for the upcoming quarters.
- IHOP's new House Faves menu, offering value meals at attractive price points, has shown early positive results.
- The dual-brand concept is performing well internationally, achieving approximately 1.5 to 2 times the revenue of a single-branded restaurant.
- Dine Brands Global Inc (DIN) continues to generate strong free cash flow and EBITDA, supported by its asset-light business model.
- Total consolidated revenues decreased by $7.6 million to $195 million in Q3 2024 compared to the same period last year.
- Applebee's reported a negative 5.9% in comp sales, and IHOP reported a negative 2.1% in comp sales for the quarter.
- The operating environment remains highly competitive and promotional, impacting the company's performance.
- The consumer demographic is under financial pressure, leading to reduced discretionary spending and more dining at home.
- Franchise revenues decreased by 3.6% to $166.4 million compared to the same quarter of 2023.
Good day, and thank you for standing by. Welcome to the Dine Brands Third Quarter Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your host today, Matt Lee, Senior Vice President of Finance and Investor Relations. Please go ahead.
Good morning, and welcome to Dine Brands Global's Third Quarter Fiscal 2024 Conference Call. This morning's call will include prepared remarks from John Peyton, CEO; and Vance Cheng, CFO. Following those prepared remarks, Tony Moralejo, President of Applebee's; and Jay Johns, President of IHOP, will also be available to address questions from the investment community during the Q&A portion of the call.
Please remember our safe harbor regarding forward-looking information. During the call, management will discuss information that is forward-looking and involves known and unknown risk, uncertainties, and other
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