Dine Brands Global, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 07:00 am EST
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Dine Brands Global, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 29.45 million compared to USD 29.41 million a year ago. Revenue was USD 206.3 million compared to USD 207.97 million a year ago. Net income was USD 33.04 million compared to USD 11.35 million a year ago. Basic earnings per share from continuing operations was USD 2.14 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 2.14 compared to USD 0.72 a year ago.
For the full year, sales was USD 119.97 million compared to USD 116.49 million a year ago. Revenue was USD 831.07 million compared to USD 909.4 million a year ago. Net income was USD 97.18 million compared to USD 81.11 million a year ago. Basic earnings per share from continuing operations was USD 6.23 compared to USD 4.97 a year ago. Diluted earnings per share from continuing operations was USD 6.22 compared to USD 4.96 a year ago.
Dine Brands Global, Inc., together with its subsidiaries, owns and franchises the Applebeeâs Neighborhood Grill + Bar (Applebeeâs) concept in the American full-serve restaurant segment within the casual dining category of the restaurant industry. The Company also owns and franchises the International House of Pancakes (IHOP) concept in the midscale full-service restaurant segment within the family dining category of the restaurant industry and Fuzzyâs Taco Shop (Fuzzyâs) concept in the Mexican limited-service restaurant segment. The Companyâs segments include franchise operations, Rental operations, Financing operations and Company restaurant operations. The franchise operations segment consists of approximately 1,642 Applebeeâs franchised restaurants; 1,814 IHOP franchised and area licensed restaurants, and 131 Fuzzy's franchised restaurants. The Rental operations segment consists of lease or sublease agreements covering 571 IHOP franchised restaurants.