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Jun 29, 2022
Denny's Q2 2022 Earnings Report
Reported results for the second quarter of 2022, demonstrating resilience amidst inflationary pressures and strategic expansion with the acquisition of Keke’s Breakfast Café.
Key Takeaways
Denny's Corporation reported an 8.3% increase in total operating revenue to $115.0 million for the second quarter of 2022. Net income was $23.0 million, or $0.37 per diluted share. The company also completed the acquisition of Keke's Breakfast Café and repurchased $37.4 million of common stock.
Total operating revenue increased by 8.3% to $115.0 million compared to the prior year quarter.
Domestic system-wide same-store sales grew 2.5% compared to the equivalent fiscal period in 2021.
Net income was $23.0 million, or $0.37 per diluted share.
Adjusted EBITDA was $17.2 million.
Revenue by Segment
Forward Guidance
The following expectations for the fiscal third quarter ending September 28, 2022, inclusive of Keke's Breakfast Café, reflect management's expectations that the current consumer and economic environment will not change materially.
Positive Outlook
- Denny's domestic system-wide same-store sales between 0% and 2%.
- Consolidated total general and administrative expenses between $17.5 million and $18.5 million, including approximately $2 million related to share-based compensation expense.
- Consolidated Adjusted EBITDA between $19 million and $21 million.
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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