Dine Brands Global is the parent company of IHOP restaurant brand. Credit: JHVEPhoto via Shutterstock.com.

Dine Brands Global has reported a net income of $33.03m for the fourth quarter of 2023, a surge of 191% compared to $11.35m a year previously.

For the fourth quarter ended 31 December 2023, total revenues were $206.3m, a marginal decrease compared to $208m in the fourth quarter of 2022.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The company attributed the decline in revenue to the refranchising of 69 company-operated Applebee’s units in October 2022.

Dine Brands Global’s adjusted net income available to common stockholders rose marginally to $21.1m from $20.6m in the same period of the previous year.

Dine Brand’s consolidated adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the fourth quarter of 2023 was $62.2m compared to $57m for the fourth quarter of 2022.

See Also:

Development activity by Applebee’s and International House of Pancakes’ (IHOP) franchisees for the fourth quarter of 2023 resulted in 24 new restaurant openings and the closure of 14 locations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Dine Brands Global CEO John Peyton said: “Our solid performance in the fourth quarter concluded a year of significant progress for Dine.

“We delivered another year of positive sales growth at IHOP and Applebee’s and generated year-over-year EBITDA growth while fully integrating Fuzzy’s into our system.

“We are further strengthening our recipe for growth in 2024 with our methodical development strategy that will generate sustainable value over the long term for our shareholders and franchisees.”