Denny's Corp (DENN) Misses Q3 EPS by 1c; offers outlook

Denny's Corp (NASDAQ: DENN) reported Q3 EPS of $0.14, $0.01 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $111.8 million versus the consensus estimate of $115.57 million.

OUTLOOK

Business Outlook

The following full year 2024 expectations reflect management's expectations that the current consumer and economic environment will not change materially, as well as the Company's strategic initiative to accelerate the closure of lower volume Denny's restaurants.

Consolidated restaurant openings of 30 to 40, including 12 to 16 new Keke's restaurants, with a consolidated net decline of 45 to 55 (vs. 20 to 30).
Labor inflation between 3% and 4%.
Adjusted EBITDA* between $81 million and $84 million (vs. between $83 million and $87 million).

For earnings history and earnings-related data on Denny's Corp (DENN) click here.

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