Denny’s Earnings: Here’s Why Investors are Ambivalent Now
Denny’s Corporation (NASDAQ:DENN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Denny’s Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.08 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 9.67% to $114.49 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Denny’s Corporation reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $112.71 million.
Quoting Management: John Miller, President and Chief Executive Officer, stated, “Denny’s delivered another quarter of solid results, as we continued to successfully execute against our key objectives implemented to strengthen and grow our position as one of the largest franchised American full-service restaurant brands. We remain focused on revitalizing Denny’s image with our ‘America’s Diner’ positioning, increasing the growth of the Denny’s brand, and growing profitability and free cash flow. As we move forward, we will continue to work closely with our franchisees to increase restaurant level performance and new restaurant growth, while also balancing our capital allocation between reinvestments in the brand and returning value to shareholders.”
Key Stats (on next page)…