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Mar 30, 2022
Denny's Q1 2022 Earnings Report
Reported a 28.0% increase in total operating revenue and announced a definitive agreement to acquire Keke's Breakfast Cafe.
Key Takeaways
Denny's Corporation reported a strong first quarter in 2022, marked by a 28.0% increase in total operating revenue to $103.1 million compared to the prior year. Domestic system-wide same-store sales grew by 23.3%. The company also signed a definitive agreement to acquire Keke's Breakfast Cafe.
Total operating revenue increased 28.0% to $103.1 million.
Domestic system-wide same-store sales grew 23.3%.
Operating income was $13.3 million compared to $5.5 million in the prior year quarter.
Net income was $21.9 million, or $0.34 per diluted share.
Revenue by Segment
Forward Guidance
The following expectations for the fiscal second quarter of 2022 ending June 29, 2022 reflect management's expectations that the current economic environment will not change materially. Additionally, the following estimates do not include any material impact from the Keke's transaction which is expected to close late in the second quarter.
Positive Outlook
- Domestic system-wide same-store sales increasing between 3% and 5%.
Challenges Ahead
- Total general and administrative expenses between $18.5 million and $19.5 million, including approximately $4 million related to share-based compensation expense.
- Adjusted EBITDA between $17 million and $19 million, including approximately $4 million related to cash payments for share-based compensation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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