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DIN earnings analysis

10-Q · Filed November 4, 2026 · Our reading of the company's report

The latest report

Dine Brands reported Q3 revenue of $248.9 million, ahead of the $241.1 million consensus estimate, with positive domestic same-restaurant sales at both Applebee's and IHOP. However, GAAP diluted EPS of $0.37 materially…

Read full summary

Dine Brands reported Q3 revenue of $248.9 million, ahead of the $241.1 million consensus estimate, with positive domestic same-restaurant sales at both Applebee's and IHOP. However, GAAP diluted EPS of $0.37 materially missed the $1.01 estimate, while adjusted EBITDA was flat at $49.0 million. The newly adopted rights agreement, which can be triggered at 10% ownership and expires on October 27, 2027, adds material governance and takeover-related risk; no numeric forward revenue or EPS guidance was provided.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

46% Gross margin Operating margin May 2021 Aug 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish May 2021 Nov 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$0.37
Segment
Applebee's domestic same-restaurant sales increased 0.9% in Q3 2026.
Segment
IHOP domestic same-restaurant sales increased 0.8% in Q3 2026.

What stood out

  • Revenue beat consensus

    Q3 revenue was $248.9 million, exceeding the $241.1 million consensus estimate by $7.8 million, or approximately 3.2%.

  • Both major brands grew comps

    Domestic same-restaurant sales increased 0.9% at Applebee's and 0.8% at IHOP, indicating positive comparable-sales trends for both major brands.

  • Share repurchases continued

    The company repurchased 223,610 shares under publicly announced programs during the quarter, while $137.31 million remained available under the repurchase authorization at quarter-end.

  • Controls remained effective

    Disclosure controls were concluded effective at the reasonable assurance level, and the filing reported no material changes in internal control over financial reporting during the quarter.

What to watch

  • Material EPS miss

    GAAP diluted EPS was $0.37 versus the $1.01 consensus estimate, a shortfall of $0.64, or approximately 63%. Adjusted EPS was $0.82, also below consensus.

  • Poison pill may deter takeover

    The Board adopted a limited-duration stockholder rights agreement after reports of accumulation in the company's stock and derivatives. The rights may be triggered at beneficial ownership of 10% (or 20% for a passive institutional investor) and carry a purchase price of $210 per one one-thousandth of Series A Preferred Stock, potentially causing substantial dilution.

  • Control contest and expense risk

    The rights agreement is scheduled to expire on October 27, 2027, unless extended, redeemed, exchanged, or otherwise terminated. The company also states that unsolicited acquisition activity could create significant expense, including proxy-contest, litigation, regulatory, and adviser costs.

Management's outlook

No quantitative revenue or EPS guidance was provided in the filing or accompanying earnings update; the report does not disclose a change to prior outlook.

Earlier filings 4

10-Q · August 5, 2026

Dine Brands delivered Q2 revenue of $240.9 million, up 4.4% year over year and above the $236.2 million consensus estimate, primarily from acquired company-owned restaurants. However, GAAP diluted EPS fell to $0.35 from…

10-Q · May 6, 2026

Dine Brands reported Q1 2026 revenues of $225.2 million, exceeding expectations of $222.4 million. However, diluted EPS of $0.57 fell below Street estimates of $1.00, demonstrating ongoing pressure on profitability…

10-K · February 25, 2026

Dine Brands grew total revenues to $879.3 million in fiscal 2025 (up $67.0 million vs. 2024) driven by acquisitions that increased company-owned restaurant revenues to $104.6 million. Profitability weakened: income…

10-K · March 5, 2025

Dine Brands Global's 2024 10-K report reveals a decline in system-wide sales across its restaurant brands, particularly Applebee's and Fuzzy's, which saw decreases of 5.5% and 14.7%, respectively. The company reported…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.

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