NASDAQ$DENN

Denny's Corp. · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported an increase in total operating revenue and net income compared to the prior year quarter, driven by COVID-19 recovery.

Denny's Corporation reported strong third-quarter results, with a 44.9% increase in total operating revenue to $103.8 million and a net income of $12.3 million, or $0.19 per diluted share. The company benefited from the COVID-19 recovery, with domestic system-wide same-store sales increasing 50.2% compared to 2020.

  • Total operating revenue increased 44.9% to $103.8 million.
  • Domestic system-wide same-store sales decreased 0.1% compared to 2019.
  • Net income was $12.3 million, or $0.19 per diluted share.
  • Adjusted EBITDA was $24.4 million compared to $8.0 million in the prior year quarter.

Headline financials

Total Revenue

$104M

Previous: $71.6M+44.9%
EPS (adj)

$0.16

Previous: $0.01+1500.0%
Domestic Same-Store Sales Growth

-0.1%

No prior period
Franchise Operating Margin

52.1%

Previous: 45.0%+15.8%
Company Restaurant Operating Margin

17.0%

Previous: 1.7%+900.0%
Adjusted EBITDA

$24.4M

Previous: $8M+205.4%
Net Income

$12.3M

Previous: $6.5M+89.2%
Operating Income

$17.7M

Previous: $3.2M+451.6%
Gross Profit

$37.8M

Previous: $20.2M+86.9%
Cash & Equivalents

$10.2M

Previous: $11.2M-9.0%
Total Assets

$411M

Previous: $451M-8.8%
Stock-Based Comp

$3.35M

Previous: $2M+67.8%

Revenue & EPS history

Denny's · Revenue · Quarterly

$104M

Q3 2021+44.9%vs Q3 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Denny's · $104M total across 2 segments · Q3 2021

  • Franchise and License Revenue
    $57.3M+30.9%
  • Company Restaurant Sales
    $46.5M+66.9%

Forward guidance

The following full year 2021 estimates reflect management's expectations that the current economic environment will not change materially:

Tailwinds

  • Domestic system-wide same-store sales decline of approximately 5% compared to 2019.
  • Total general and administrative expenses between $67 million and $69 million, including approximately $13.5 million related to share-based compensation.
  • Adjusted EBITDA between $84 million and $86 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 16 quarterly earnings reports

Historical avg

-0.0%

Avg return

Earnings day

-0.9%

Avg return

5 days after

-2.4%

Avg return

30 days after

41%

26 / 64 earnings

Positive

+50.1%

Q3 2025

Best reaction

-23.8%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026
Q4 2025
Q3 2025+50.1%+48.7%+50.1%
Q2 2025-3.3%-0.5%+31.8%
Q1 2025+3.2%+17.9%+2.6%
Q4 2024-23.8%-27.5%-41.5%
Q3 2024-17.2%-5.9%-3.8%
Q2 2024-1.6%-12.2%-11.9%
Q1 2024-2.1%-1.3%-15.2%
Q4 2023-10.1%-9.9%-13.7%
Q3 2023+1.2%+7.5%+11.7%
Q2 2023-11.2%-12.9%-19.1%
Q1 2023-5.4%-4.1%+1.6%
Q4 2022+1.3%+3.6%-11.0%
Q3 2022+2.6%+4.1%+10.6%
Q2 2022+8.1%+0.4%+2.1%
Q1 2022-14.8%-18.9%-20.4%
Q4 2021-2.6%-3.4%-11.9%
Q3 2021-2.2%
Q2 2021+5.8%
Q1 2021-4.3%
Q4 2020-0.9%
Q3 2020-13.6%
Q2 2020+4.9%
Q1 2020+4.6%
Q4 2019-3.4%
Q3 2019-3.2%
Q2 2019+3.8%
Q1 2019+1.5%
Q4 2018-3.6%
Q3 2018+20.6%
Q2 2018-7.1%
Q1 2018-14.4%
Q4 2017+3.7%
Q3 2017+1.8%
Q2 2017+8.4%
Q1 2017-6.5%
Q4 2016+12.0%
Q3 2016+6.1%
Q2 2016-2.0%
Q1 2016+6.1%
Q4 2015+5.1%
Q3 2015-6.3%
Q2 2015+8.0%
Q1 2015-0.3%
Q4 2014+5.6%
Q3 2014+10.8%
Q2 2014+9.9%
Q1 2014+5.4%
Q4 2013+0.0%
Q3 2013-1.9%
Q2 2013-3.6%
Q1 2013+0.0%
Q4 2012-1.8%
Q3 2012-1.5%
Q2 2012-4.2%
Q1 2011-4.1%
Q1 2012+3.4%
Q4 2009-1.4%
Q4 2011-1.4%
Q3 2010-3.8%
Q3 2011-3.8%
Q4 2010-7.8%
Q2 2011-7.8%
Q2 2010-3.0%
Q1 2010+11.1%

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