Denny's (DENN) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.50%. A quarter ago, it was expected that this restaurant operator would post earnings of $0.17 per share when it actually produced earnings of $0.13, delivering a surprise of -23.53%.Over the last four quarters, the co ...

Financial Performance - Total operating revenue for Q3 2024 was $111.8 million, a decrease from $114.2 million in the prior year quarter[3] - Operating income for Q3 2024 was $11.7 million, down from $14.0 million in the prior year quarter[3] - Net income was reported at $6.5 million, or $0.12 per diluted share, with adjusted net income at $7.2 million, or $0.14 per share[3] - Total operating revenue for the quarter ended 9/25/24 was $111,759,000, a decrease of 2.3% from $114,183,000 for the quarter ended 9/27/23[18] - Net income for the quarter ended 9/25/24 was $6,516,000, a decrease of 17.6% compared to $7,908,000 for the quarter ended 9/27/23[18] - Comprehensive income for the three quarters ended 9/25/24 was $12,989,000, a decrease of 59.5% compared to $31,980,000 for the same period last year[20] - Adjusted EBITDA for the three quarters ended September 25, 2024, was $58,739,000, down 13.5% from $68,235,000 for the same period in 2023[23] Sales and Revenue Trends - Denny's domestic system-wide same-restaurant sales decreased by 0.1% compared to the same period in 2023, with a decline of 0.4% at company restaurants[3] - Company restaurant sales decreased to $52,701,000 for the quarter ended 9/25/24, down from $53,153,000 for the same quarter last year, representing a decline of 0.8%[18] - Franchise and license revenue for the quarter ended 9/25/24 was $59,058,000, a decrease of 3.2% from $61,030,000 for the quarter ended 9/27/23[18] - Franchise and license revenue totaled $178,269 million, a decrease from $187,083 million year-over-year, with royalties contributing $88,421 million (49.6%) and advertising revenue $59,098 million (33.2%)[31] - Company restaurant sales were $159,391 million, down from $161,486 million, with product costs at $40,554 million (25.4%) and payroll and benefits at $60,805 million (38.1%)[32] Expenses and Costs - Adjusted EBITDA is expected to be between $81 million and $84 million for the full year 2024[8] - General and administrative expenses are projected to be between $82 million and $85 million for the full year 2024[8] - General and administrative expenses for the quarter ended September 25, 2024, increased to $19,831,000 from $18,237,000 for the quarter ended September 27, 2023[28] - Interest expense for the quarter ended September 25, 2024, was $4,381,000, compared to $13,288,000 for the quarter ended September 27, 2023[23] - Total costs of operating revenue were $232,317 million (68.8%)[33] Debt and Liabilities - The company ended the quarter with total debt outstanding of $272.0 million, including $261.0 million in borrowings under its credit facility[6] - Total current assets decreased to $33,851,000 as of 9/25/24, down from $44,050,000 as of 12/27/23, reflecting a decline of 23.1%[17] - Total liabilities decreased to $516,106,000 as of 9/25/24, down from $527,504,000 as of 12/27/23, a reduction of 2.6%[17] - Total debt increased to $271,997,000 as of 9/25/24, up from $266,033,000 as of 12/27/23, an increase of 2.3%[17] Restaurant Operations and Development - The company plans to open 30 to 40 new restaurants in 2024, including 12 to 16 new Keke's restaurants, with a projected net decline of 45 to 55 restaurants[8] - Denny's ended the quarter with 1,541 total units, a net decrease of 16 units compared to the previous quarter[35] - Keke's opened 4 new units year-to-date, resulting in a total of 62 units[35] - Year-to-date 2024, Denny's had 1,548 equivalent units, down 42 units from 2023[35] - Denny's closed 58 units year-to-date, with a net change of (48) units[35] - Denny's refranchised 3 units in the quarter, while Keke's refranchised 1 unit[35] Margins and Profitability - Adjusted franchise operating margin was $30.1 million, or 51.0% of franchise and license revenue, consistent with the prior year quarter[5] - Restaurant-level operating margin for the quarter ended September 25, 2024, was $35,940,000, a decrease of 6.4% from $38,480,000 for the quarter ended September 27, 2023[28] - Company restaurant operating margin for the quarter ended September 25, 2024, was 11.2%, down from 13.7% for the quarter ended September 27, 2023[29] - Franchise operating margin for the quarter ended September 25, 2024, was $30,059,000, a decrease from $31,220,000 for the quarter ended September 27, 2023[28] - The adjusted company restaurant operating margin (non-GAAP) was $19,450 million (12.2%), compared to $23,138 million (14.3%) in the previous year[32] Shareholder Information - Basic weighted average shares outstanding decreased to 52,148,000 for the quarter ended 9/25/24, down from 55,869,000 for the quarter ended 9/27/23[18] - The effective tax rate for the quarter ended September 25, 2024, was 0.6%, significantly lower than the 11.9% for the quarter ended September 27, 2023[23]

Core Viewpoint - Denny's Corporation will announce its financial and operating results for the third quarter ended September 25, 2024, on October 22, 2024, before market opening [1]. Company Overview - Denny's Corporation is one of America's largest full-service restaurant chains, operating a total of 1,603 restaurants as of June 26, 2024, with 1,528 being franchised and licensed, and 75 being company-operated [3]. - The Denny's brand includes 1,541 global restaurants, with 1,477 franchised and licensed and 64 company-operated, while the Keke's brand consists of 62 restaurants, with 51 franchised and 11 company-operated as of June 26, 2024 [4].

Leadership Appointments - Denny's Inc. announced the appointment of Minh Le as senior vice president and chief technology officer, effective September 23, 2024, and Christopher Bode as president and chief operating officer, effective September 30, 2024 [1][4] - These appointments are part of Denny's strategy to enhance its technological infrastructure and operational excellence [1][5] Minh Le's Role and Experience - Minh Le will oversee the technology ecosystem for both Denny's and Keke's Breakfast Café, focusing on modernizing solutions to improve guest experiences and operational efficiencies [2][3] - Le has over 25 years of experience in technology transformations for major restaurant brands, including Checkers & Rally's and Darden Restaurants [2] Christopher Bode's Return - Christopher Bode returns to Denny's after serving as COO from 2014 to 2022, bringing extensive operational expertise and knowledge of the brand [3][4] - Bode will manage operations, marketing, finance, and HR for both corporate and franchise restaurants [3] Company Vision and Strategy - Denny's aims to build a comprehensive technology ecosystem to empower teams and enhance guest experiences [3] - The leadership changes are expected to drive innovation and maintain competitiveness in the restaurant industry [5] Company Overview - Denny's is a family dining restaurant brand based in Spartanburg, S.C., with over 70 years of history [6] - As of June 26, 2024, Denny's operates 1,541 restaurants globally, with 1,477 being franchised [7]

SASKATOON, Saskatchewan, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Denny's Canada is honored to have once again the opportunity to fundraise on behalf of The Saskatchewan Roughriders Foundation in collaboration with the Saskatchewan Roughriders CFL team. For the entire day before each 2024 home game, guests are invited to enjoy a $9.99 Riders Slam Special. $5 from each order will be donated to one of Saskatchewan's premier organizations as they focus on supporting amateur sports, education, and health within local ...

Industry Overview - The Family Dining segment is experiencing a significant decline, with a cumulative traffic loss of approximately 20.6% since 2019, the worst among restaurant categories [2][3] - In Q2 2024, Family Dining showed the worst outlook for both sales and traffic compared to other segments [2] - The decline in traffic is attributed to changing consumer habits favoring convenience and speed, leading to a preference for limited-service restaurants [2][3] Company Performance: Denny's - Denny's has closed approximately 25 units in Q1 2024 and 15 units in Q2 2024, resulting in a net decrease of 39 units over the first half of the year [4][5] - Comparable sales for Denny's in Q2 2024 were reported at -0.6%, with a 4.6% decline in traffic and a 4% increase in average check due to a 5% price increase [6] - Denny's has adjusted its fiscal 2024 comparable sales forecast to a range of -1% to 1%, indicating ongoing challenges in sales performance [6] Strategic Initiatives - Denny's is focusing on value promotions, dedicating nearly 20% of its mix to value offerings, but has struggled to rekindle traffic [7] - The company is reintroducing a '$2, $4, $6, $8, $10 Value Menu' aimed at increasing average check sizes while attempting to attract price-sensitive customers [7] - Denny's is also expanding its digital brands, including Banda Burrito, to capture delivery and takeout orders, particularly in California [7][8] Competitive Landscape - Other family dining restaurants, such as Cracker Barrel and IHOP, are implementing various strategies to combat declining traffic, including menu overhauls and diversification of offerings [7] - Despite some family restaurants managing to outperform the Black Box Family Dining Index, Denny's continues to face challenges in attracting traffic from limited-service restaurants [9] Financial Valuation - Denny's is considered close to its fair value, with a projected price of $7.73, indicating a potential upside of 25% from current levels [10] - The company maintains a 'Hold' rating due to its restructuring efforts and the overall decline in the family dining segment [11]

VANCOUVER, British Columbia, July 31, 2024 (GLOBE NEWSWIRE) -- Denny's Canada is delighted to announce the incredible results of their most recent national fundraising initiative for Big Brothers Big Sisters of Canada (BBBSC), in partnership with their parent company's community give-back program, Northland Cares. Earlier this Summer, the iconic community-based restaurant donated $2 from every order of their Berry Stuffed French Toast Slam to BBBSC, successfully fundraising over $21,000 with the help of the ...

Denny's Corporation (NASDAQ:DENN) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET Company Participants Kayla Money – Director-FP&A and Investor Relations Kelli Valade – President and Chief Executive Officer Robert Verostek – Executive Vice President and Chief Financial Officer Conference Call Participants Todd Brooks – The Benchmark Company Jake Bartlett – Truist Securities Michael Tamas – Oppenheimer Nick Setyan – Wedbush Securities Ally Arfstrom – Piper Sandler Operator Greetings, and welcome to ...

For the quarter ended June 2024, Denny's (DENN) reported revenue of $115.93 million, down 0.9% over the same period last year. EPS came in at $0.13, compared to $0.14 in the year-ago quarter. Here is how Denny's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: : 1,603 versus 1,613 estimated by four analysts on average. : 75 versus 77 estimated by four analysts on average. : 64 versus 64 estimated by two analysts on average. : $54.35 ...

Company Performance - Denny's reported quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.17 per share, and compared to earnings of $0.14 per share a year ago [7] - The company posted revenues of $115.93 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.51%, and down from $116.92 million year-over-year [2] - Denny's has not been able to beat consensus revenue estimates over the last four quarters [2] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.16 on revenues of $117.31 million, and $0.61 on revenues of $468.04 million for the current fiscal year [4] - Over the last four quarters, Denny's has surpassed consensus EPS estimates just once [8] - The estimate revisions trend for Denny's is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [10] Industry Context - The Retail - Restaurants industry, to which Denny's belongs, is currently in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [11] - Another industry player, Brinker International, is expected to report quarterly earnings of $1.65 per share, reflecting a year-over-year change of +18.7% [12] - Brinker International's revenues are projected to be $1.16 billion, up 7.4% from the year-ago quarter [6]