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Sep 23, 2020
Denny's Q3 2020 Earnings Report
Denny's Q3 2020 earnings were reported, revealing a decrease in total operating revenue to $71.6 million due to the COVID-19 pandemic and the company's refranchising strategy, but showing sequential sales improvements throughout the quarter.
Key Takeaways
Denny's Corporation reported a decrease in total operating revenue to $71.6 million for Q3 2020, impacted by the COVID-19 pandemic and refranchising efforts. Despite these challenges, the company saw sequential sales improvements throughout the quarter, driven by innovations like enhanced Denny's on Demand and a streamlined menu.
Total operating revenue was $71.6 million.
Domestic system-wide same-store sales decreased 33.6%.
Operating Income was $3.2 million.
Net Income was $6.5 million, or $0.10 per diluted share.
Revenue by Segment
Forward Guidance
Based on third quarter results and management's expectation that the current business conditions will not materially decline, the Company is providing full year 2020 (53 operating weeks) guidance for the fiscal year ending December 30, 2020.
Positive Outlook
- Domestic system-wide same-store sales** between 70% and 75% of prior year.
- Total general and administrative expenses between $51 and $54 million, including approximately $7 million related to share-based compensation expense.
- Adjusted EBITDA* of at least $28 million.
- Cash tax refunds between $5 and $7 million.
- Adjusted Free Cash Flow* of at least $10 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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