Loading...
•
Sep 27, 2023
Denny's Q3 2023 Earnings Report
Reported a decrease in total operating revenue but an increase in Denny's domestic system-wide same-restaurant sales and Adjusted EBITDA.
Key Takeaways
Denny's Corporation reported its Q3 2023 results, with a decrease in total operating revenue to $114.2 million compared to $117.5 million in the prior year quarter. However, Denny's domestic system-wide same-restaurant sales increased by 1.8%, and Adjusted EBITDA grew by 15.5%. The company secured development agreements for 100 Keke's Cafés.
Total operating revenue was $114.2 million, down from $117.5 million in the prior year quarter.
Denny's domestic system-wide same-restaurant sales increased by 1.8%.
Operating income was $14.0 million, compared to $15.8 million in the prior year quarter.
Net income was $7.9 million, or $0.14 per diluted share.
Revenue by Segment
Forward Guidance
The Company updated its full year 2023 guidance reflecting management's expectations that the current consumer and economic environment will not change materially.
Positive Outlook
- Denny's domestic system-wide same-restaurant sales between 2.75% and 3.50%.
- Consolidated restaurant openings of 35 to 45, including 4 to 6 new Keke's restaurants.
- Commodity inflation between 1% and 2%.
- Labor inflation of approximately 4%.
- Consolidated total general and administrative expenses between $75 million and $77 million, including approximately $11 million related to share-based compensation expense which does not impact Consolidated Adjusted EBITDA.
Challenges Ahead
- Consolidated net decline of 10 to 20
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...