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Dine Brands Global

Dine Brands Global (DIN) Q2 2025 Earnings

Reported Aug 6, 2025 at 7:15 AM ET · SEC Source

Q2 25 EPS

$1.17

MISS 19.35%

Est. $1.45

Q2 25 Revenue

$230.8M

BEAT +3.30%

Est. $223.4M

vs S&P Since Q2 25

+65.4%

BEATING MARKET

DIN +83.4% vs S&P +18.0%

Market Reaction

Did DIN Beat Earnings? Q2 2025 Results

Dine Brands Global posted a mixed second quarter for fiscal 2025, beating on revenue while falling well short on the bottom line, as the casual dining parent of Applebee's and IHOP reported adjusted EPS of $1.17, missing the $1.45 consensus estimate … Read more Dine Brands Global posted a mixed second quarter for fiscal 2025, beating on revenue while falling well short on the bottom line, as the casual dining parent of Applebee's and IHOP reported adjusted EPS of $1.17, missing the $1.45 consensus estimate by 19.35%. Revenue climbed 11.9% year-over-year to $230.78 million, edging past the $223.41 million analyst expectation, but the top-line strength was largely structural rather than organic, driven by the addition of company-operated restaurants following acquisitions rather than franchise momentum. Profitability bore the real pressure: GAAP net income fell to $13.81 million from $23.18 million a year ago, while a costly debt refinancing that replaced 4.72% notes with new 6.72% senior secured notes meaningfully inflated the interest burden. The divergence between brands also complicated the picture, with Applebee's comps rising 4.9% even as IHOP declined 2.3% and Fuzzy's Taco Shop tumbled 11.8%. Management trimmed its full-year adjusted EBITDA outlook to $220 million-$230 million, though it raised its Applebee's comparable sales guidance to positive 1%-3%, reflecting that brand's relative resilience.

Key Takeaways

  • • Applebee's domestic comparable same-restaurant sales increased 4.9% driven by value-driven promotions and menu/marketing innovation
  • • IHOP domestic comparable same-restaurant sales declined 2.3%
  • • Fuzzy's domestic comparable same-restaurant sales declined 11.8%
  • • Company restaurant sales increased significantly due to acquisitions of 59 Applebee's and 10 IHOP restaurants
  • • Franchise revenues declined slightly due to lower royalties and advertising revenues
  • • G&A expenses increased due to higher compensation and professional service fees related to company restaurant operations and dual brand/remodel initiatives
  • • Applebee's off-premise sales mix was 22.0% with approximately $12,800 average weekly sales
  • • IHOP off-premise sales mix was 20.0% with approximately $7,600 average weekly sales
24/7 Wall St

DIN YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

DIN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“In the second quarter, we continued to build positive momentum across both Applebee's and IHOP, with notable improvements in sales and traffic. Applebee's benefited from strong consumer response to our value-driven promotions and continued innovation in menu and marketing, while IHOP saw growth fueled by its refreshed brand positioning and value strategy. At the same time, our Dual Brands initiative is building traction with our franchisees as our second domestic unit also opened with strong economics. We remain confident that our ongoing investments will generate sustainable value for our shareholders and franchisees based on these results.”

— John Peyton, Q2 2025 Earnings Press Release

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