Dine Brands Posts 4.8% Q1 Revenue Rise, Reaffirms Outlook as Applebee’s Gains and IHOP Holds Flat

Overview

• Consolidated revenue rose 4.8% in Q1, driven by recent purchases of company-operated restaurants, which can lift reported sales even if same-store trends soften.
• Applebee’s same-store sales grew 1.9% and IHOP was flat, with both brands outperforming industry benchmark Black Box despite weather pressure.
• Traffic fell at both brands while franchisees raised menu prices about 4% at Applebee’s and about 3% at IHOP, with mix positive at Applebee’s and negative at IHOP.
• Management kept full-year guidance and cited recent promotions, including Applebee’s OM Cheeseburger and IHOP’s Bottomless Pancakes, as traffic drivers.
• An analyst noted a pickup in closures, about 32 at Applebee’s and roughly 20 at IHOP, and management said it still expects to meet net development targets.