Dine Brands Global, Inc. (NYSE:DIN) shares moved higher on Wednesday after the restaurant operator reported better-than-expected quarterly results and reaffirmed its full-year outlook.

The company highlighted stable same-store sales expectations at Applebee's and IHOP while continuing to expand its dual-branded restaurant footprint through franchise-led growth.

Quarterly Details

The company reported first-quarter adjusted earnings per share of $1.07, beating the analyst consensus estimate of $1.01.

Quarterly sales of $225.200 million (+4.8% year over year) outpaced the Street view of $222.321 million.

Consolidated adjusted EBITDA for the first quarter was $50.8 million compared to $54.7 million in the year-ago period.

Cash and equivalents and restricted cash were approximately $172.9 million, of which approximately $104.2 million was unrestricted cash.

Operating cash flow for the first quarter was $7.50 milliom, down from $16.10 million in the prior year quarter.

During the first quarter, the company repurchased approximately $22 million of its common stock and paid approximately $2.5 million in dividends.

Metrics

Applebee's year-over-year comparable domestic same-restaurant sales increased 1.9% for the first quarter of 2026. Off-premise sales accounted for 23.9% of the sales mix in the first quarter of 2026.

IHOP's year-over-year domestic comparable same-restaurant sales remained flat for the first quarter of 2026. Off-premise sales accounted for 21.5% of the sales mix in the first quarter of 2026.

Adjusted free cash flow was negative $3 million for the first quarter, which compares to adjusted free cash flow of $14.6 million in the year-ago period.

Development activity by Applebee's and IHOP for the first quarter of 2026 resulted in 24 new restaurant openings and 40 restaurant closures.

Outlook

Dine Brands expects Applebee's domestic comparable same-restaurant sales to range between flat and 2% growth in fiscal 2026.

The company expects IHOP domestic comparable same-restaurant sales to range between flat and 2% growth during the year.

Dine Brands expects Applebee's domestic restaurant count to decline by 5 to 15 net locations, while IHOP is expected to range from 10 net closures to 10 net openings.

The company also expects at least 50 domestic dual-branded restaurant openings, primarily driven by franchisees.

Dine Brands projects consolidated adjusted EBITDA between $220 million and $230 million, G&A expenses between $205 million and $210 million, and capital expenditures between $25 million and $35 million in fiscal 2026.

DIN Price Action: Dine Brands Global shares were up 1.78% at $28.20 at the time of publication on Wednesday, according to Benzinga Pro data.

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