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Sep 28, 2022
Denny's Q3 2022 Earnings Report
Reported solid performance driven by commitment to everyday value and positive consumer response to value menus.
Key Takeaways
Denny's Corporation reported a 13.2% increase in total operating revenue to $117.5 million for Q3 2022. The company's net income was $17.1 million, or $0.29 per diluted share. Denny's domestic system-wide same-store sales grew 1.5%. The company also completed the acquisition of Keke's on July 20, 2022.
Acquired Keke's on July 20, 2022 for $82.5 million.
Total operating revenue grew 13.2% to $117.5 million compared to the prior year quarter.
Denny's domestic system-wide same-store sales grew 1.5% compared to the equivalent fiscal period in 2021, including a 1.1% increase at domestic franchised restaurants and a 7.1% increase at company restaurants.
Net income was $17.1 million, or $0.29 per diluted share.
Revenue by Segment
Forward Guidance
The following expectations for the fiscal fourth quarter ending December 28, 2022 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 1% and 3%.
- Consolidated Adjusted EBITDA between $21 million and $23 million.
Challenges Ahead
- Consolidated total general and administrative expenses between $17 million and $18 million, including approximately $2 million related to share-based compensation expense.
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
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