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Denny’s(DENN) - 2023 Q2 - Earnings Call Transcript
2023-08-01 22:36
Denny's Corporation (NASDAQ:DENN) Q2 2023 Earnings Conference Call August 1, 2023 4:30 PM ET Company Participants Curt Nichols - Vice President, Investor Relations & Finance Kelli Valade - Chief Executive Officer Robert Verostek - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Tamas - Oppenheimer Todd Brooks - The Benchmark Company Nick Setyan - Wedbush Securities Eric Gonzalez - KeyBanc Jake Bartlett - Truist Operator Greetings, and welcome to the Denny's Corporatio ...
Denny’s(DENN) - 2023 Q2 - Quarterly Report
2023-07-31 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ________________ Commission File Number 0-18051 DENNY'S CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 13-3487402 | | ...
Denny’s(DENN) - 2023 Q1 - Earnings Call Transcript
2023-05-02 23:48
Denny's Corporation (NASDAQ:DENN) Q1 2023 Results Conference Call May 2, 2023 4:30 PM ET Company Participants Curt Nichols - Vice President, Investor Relations and Finance Kelli Valade - Chief Executive Officer Robert Verostek - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Tamas - Oppenheimer Eric Gonzalez - KeyBanc Jake Bartlett - Truist Securities Nick Setyan - Wedbush Securities Todd Brooks - The Benchmark Company Operator Greetings, and welcome to the Denny's ...
Denny’s(DENN) - 2023 Q1 - Quarterly Report
2023-05-02 20:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ________________ Commission File Number 0-18051 DENNY'S CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 13-3487402 | | ...
Denny’s(DENN) - 2022 Q4 - Annual Report
2023-02-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-18051 DENNY'S CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...
Denny’s(DENN) - 2022 Q4 - Earnings Call Transcript
2023-02-14 03:50
Denny's Corporation's (NASDAQ:DENN) Q4 2022 Earnings Conference Call February 13, 2023 4:30 PM ET Company Participants Curt Nichols - VP, IR and Financial Planning and Analysis Kelli Valade - CEO Robert Verostek - EVP and CFO Conference Call Participants Nick Setyan - Wedbush Securities Eric Gonzalez - KeyBanc Capital Markets Jake Bartlett - Truist Securities Michael Tamas - Oppenheimer Todd Brooks - The Benchmark Company Jon Tower - Citi Andrew Wolf - C.L. King Operator Greetings, and welcome to the Denny' ...
Denny’s(DENN) - 2022 Q3 - Earnings Call Transcript
2022-11-02 02:05
Denny's Corporation's (NASDAQ:DENN) Q3 2022 Earnings Conference Call November 1, 2022 4:30 PM ET Company Participants Curt Nichols - VP Investor Relations and Financial Planning and Analysis Kelli Valade - CEO Robert Verostek - EVP and CFO Conference Call Participants Michael Tamas - Oppenheimer Nick Setyan - Wedbush Securities Todd Brooks - Benchmark Company Eric Gonzalez - KeyBank Capital Markets Jake Bartlett - Truist Securities Operator Good day and welcome to the Denny's Corporation Third Quarter 2022 ...
Denny’s(DENN) - 2022 Q3 - Quarterly Report
2022-11-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ________________ Commission File Number 0-18051 DENNY'S CORPORATION (Exact name of registrant as specified in its charter) Delaware 13- ...
Denny’s(DENN) - 2022 Q2 - Earnings Call Transcript
2022-08-03 02:41
Financial Data and Key Metrics Changes - Denny's domestic system-wide store sales increased by 2.5% compared to 2021 and by 1.8% compared to 2019 [13] - Same-store sales growth in Q2 was 2.5%, driven by a 10% increase in guest check average, which included approximately 3.5% carryover pricing from the prior year and over 3% pricing taken in the current year [26] - Adjusted net income per share was $0.11 compared to $0.18 in the prior year quarter [35] Business Line Data and Key Metrics Changes - Franchise and license revenue increased by $7.3 million or 12.4% to $65.9 million, with royalties and advertising revenue rising due to a 2.4% increase in domestic franchise same-store sales [28] - Company restaurant sales of $49.2 million were up 3.4%, primarily due to improved transactions from limited operating hours in the prior year [31] - Company restaurant operating margin was 8.8%, down from 20.5% in the prior year, impacted by unfavorable legal reserve adjustments [31] Market Data and Key Metrics Changes - Off-premise sales remained strong at approximately 21% of total sales compared to the pre-pandemic trend of 12% [18] - Domestic average weekly sales for Q2 were approximately $36,000, a 5% increase compared to the pre-pandemic second quarter of 2019 [27] Company Strategy and Development Direction - The company is focused on a clear barbell strategy of offering high-quality products while emphasizing value offerings, which is seen as a competitive advantage [16] - Denny's is actively working to return to 24-hour operations, which is expected to drive sales, particularly in late-night dining [14] - The acquisition of Keke's Breakfast Café is viewed as an opportunity to participate in the fast-growing A.M. Eatery segment [21] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence has been affected by inflationary pressures, but the brand's value positioning is expected to resonate with consumers [50] - There are early signs that commodity prices may have peaked, with expectations for easing in the third quarter [40] - The company anticipates third-quarter domestic system-wide same-store sales to be between 0% and 2% compared to 2021 [38] Other Important Information - The company allocated $37.4 million to share repurchases during the quarter, with approximately $168 million remaining under the existing repurchase authorization [36] - The kitchen modernization initiative is expected to enhance guest experience and operational efficiencies, with 50% of domestic units already equipped [19] Q&A Session Summary Question: Can you unpack the third quarter sales guidance? - Management indicated that sales typically trend down from Q2 to Q3 due to back-to-school seasonality, but they are seeing benefits from value messaging and 24/7 operations [47][49] Question: What is the current staffing situation? - Staffing levels have improved, with limited hour units now at approximately 80% to 85% staffing compared to pre-COVID levels [70] Question: How is the company addressing margin trajectory? - Management expects a decline in mix but believes that driving traffic through value offerings will ultimately enhance margins [58] Question: What is the expected contribution from Keke's? - The expected EBITDA contribution from Keke's is between $1.5 million to $1.75 million per quarter, with growth anticipated as the integration progresses [82]
Denny’s(DENN) - 2022 Q2 - Quarterly Report
2022-08-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ________________ Commission File Number 0-18051 DENNY'S CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-34874 ...