Loading...
•
Jun 26, 2024
Denny's Q2 2024 Earnings Report
Denny's Corporation reported results with total operating revenue of $115.9 million and net income of $3.6 million.
Key Takeaways
Denny's Corporation reported a decrease in total operating revenue to $115.9 million compared to the prior year quarter. The company's net income was $3.6 million, or $0.07 per diluted share. Denny's domestic system-wide same-restaurant sales decreased by 0.6%.
Total operating revenue was $115.9 million, a decrease from $116.9 million in the prior year quarter.
Denny's domestic system-wide same-restaurant sales decreased by 0.6%.
Operating income was $9.1 million, down from $14.9 million in the prior year quarter.
Net income was $3.6 million, or $0.07 per diluted share.
Revenue by Segment
Forward Guidance
The following full year 2024 expectations reflect management's expectations that the current consumer and economic environment will not change materially.
Positive Outlook
- Commodity inflation between 0% and 2%.
- Labor inflation between 3% and 4%.
- Total general and administrative expenses between $82 million and $85 million, including approximately $11 million related to share-based compensation expense which does not impact Adjusted EBITDA.
- Adjusted EBITDA between $83 million and $87 million.
Challenges Ahead
- Denny's domestic system-wide same-restaurant sales between (1%) and 1%.
- Consolidated restaurant openings of 30 to 40, including 12 to 16 new Keke's restaurants, with a consolidated net decline of 20 to 30.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...