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# Dine Brands Revenue Climbs To $248.9 Million On Restaurant Buys, While Profit Slips
- URL: https://www.bullished.co/dine-brands-revenue-climbs-to-248-9-million-on-restaurant-buys-while-profit-slips-b18546a6/
- Published: 2026-11-04T12:21:12.000Z
- Updated: 2026-11-04T12:21:12.000Z
- Description: Third-quarter adjusted EBITDA held at $49.0 million, and nine-month operating cash flow fell to $37.8 million from $83.3 million.
- Author: Matteo Parrino
- Tags: Earnings, DIN, Industry: Consumer Discretionary

[Dine Brands](https://www.bullished.co/tag/din/), which owns and franchises Applebee's, IHOP and Fuzzy's Taco Shop, said third-quarter [revenue rose to $248.9 million](https://www.sec.gov/Archives/edgar/data/0000049754/000119312526446207/d124239dex991.htm?ref=bullished.co) from $216.1 million a year earlier, lifted by company-owned restaurants it bought and opened. Net income available to common stockholders fell to $4.5 million, according to an [8-K filed](https://www.sec.gov/Archives/edgar/data/0000049754/000119312526446207/d124239d8k.htm?ref=bullished.co) Wednesday.

## Revenue up, earnings down

Company-owned restaurant revenue rose $36.9 million, to $64.4 million from $27.5 million, and the company said that accounted for most of the revenue gain. Franchise revenue slipped to $159.0 million from $161.3 million.

Earnings were $0.37 per diluted share, against $0.48 a year earlier. On an adjusted basis, earnings rose to $0.82 per share from $0.73, and adjusted EBITDA was flat at $49.0 million. Income before taxes fell to $6.7 million from $10.0 million.

General and administrative expenses rose to $51.6 million from $50.2 million, which the company tied to professional fees and employee costs from its company-owned and dual-brand push.

CEO John Peyton said both Applebee's and IHOP "achieved positive growth." Comparable domestic same-restaurant sales rose 0.9% at Applebee's and 0.8% at IHOP, with off-premise sales at 23% and 21% of the mix.

## Cash generation shrinks

For the first nine months, operating cash flow fell to $37.8 million from $83.3 million. The company cited the timing of marketing spend, higher performance pay and interest, and remodel and development incentives paid to franchisees.

Adjusted free cash flow dropped to $12.8 million from $68.2 million, which also reflects higher capital spending. Nine-month revenue rose to $715.0 million from $661.7 million, but net income available to common stockholders fell to $15.9 million from $28.1 million and adjusted EBITDA slipped to $154.0 million from $159.9 million.

The nine-month gain came from buying 12 Applebee's restaurants in February 2026 and 48 in June 2026, along with earlier purchases of IHOP and Applebee's units.

## Cash, debt and shareholder returns

The company, which as of September 27, 2026 had nearly 3,500 restaurants across its three brands, ended the quarter with about $91.1 million of unrestricted cash and about $224.5 million of borrowing capacity under its variable funding senior notes.

In the quarter it repurchased about $6.5 million of stock and paid about $2.4 million in dividends. It opened 23 restaurants and closed 28, including seven dual-branded openings; it had 49 domestic dual-branded locations at quarter-end.

Chief Financial Officer Vance Chang said the company's asset-light model gives it flexibility to invest while returning capital to shareholders. Management holds its earnings call at 11:00 a.m. Eastern on Wednesday.

Peyton said the company is focused on expanding its dual-brand program, improving its company-owned portfolio and accelerating its remodel pipeline.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Dine Brands Global, Inc. (DIN)](https://www.sec.gov/Archives/edgar/data/0000049754/000119312526446207/d124239d8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d124239dex991.htm — Dine Brands Global, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000049754/000119312526446207/d124239dex991.htm?ref=bullished.co) — SEC EDGAR

### More on Dine Brands Global

- [Dine Brands Board Rejects $39-A-Share Cash Bid In Under A Week, Bidders Say](https://www.bullished.co/dine-brands-board-rejects-39-a-share-cash-bid-in-under-a-week-bidders-say-423b943d/)
- [Arkhouse And Cobblers Cove Press Dine Brands To Talk After Board Rejects $39 Cash Offer](https://www.bullished.co/arkhouse-and-cobblers-cove-press-dine-brands-to-talk-after-board-rejects-39-cash-offer-5c886f5d/)
- [Dine Brands Adopts One-Year Poison Pill With 10% Trigger After Reported $39-A-Share Offer](https://www.bullished.co/dine-brands-adopts-one-year-poison-pill-with-10-trigger-after-reported-39-a-share-offer-4c5dfe8c/)

[All Dine Brands Global (DIN) coverage →](https://www.bullished.co/tag/din/)