Adjusted Free Cash Flow Increase
Adjusted free cash flow increased to $77.8 million for the first 9 months of 2024 compared to $54 million for the same period last year, driven by a $21.7 million decrease in capital expenditures.
Successful Menu Innovations at IHOP
IHOP's new menu items, such as the Anytime Tacos and updated breakfast burrito, performed well, indicating positive guest feedback and successful menu innovation.
Improved Guest Satisfaction
Both Applebee's and IHOP reported improvements in guest satisfaction scores, suggesting enhancements in operations, service, and food quality.
Strong Cash Position
The company finished the third quarter with total unrestricted cash of $169.6 million, up from $153.5 million at the end of the second quarter.
Expected First U.S. Dual Brand Location
The company plans to open its first U.S. dual brand location in Seguin, Texas, in Q1 of 2025, leveraging the potential of complementary brands.