Dine Brands Global saw its total revenue increase from $206.2 million in the first quarter of 2024 to $214.8 million in the same period this year – thanks to a larger store count. 

The rise was attributed to the acquisition of 47 Applebee’s restaurants in the fourth quarter of last year. 

However, Applebee’s saw a 2.2 per cent decline in comparable restaurant sales while Ihop saw a 2.7 per cent decrease over the period. 

EBITDA of $54.7 million recorded this year, was down from $60.8 million in the first quarter of last year. 

Nine new restaurants were opened with 39 closed restaurants in the first quarter. 

Moving forward, the company expects Applebee’s and Ihop’s restaurant sales to range between negative 1 per cent and positive 2 per cent each.

It expects to close between 20 to 35 Applebee’s restaurants and 10 Ihop restaurants, with a net 10 new Ihop openings. 

Dine Brands Global expects to see its adjusted full-year EBITDA to range between $235 million and $245 million.