Denny’s reports Q4 adjusted EPS 14c, consensus 17c

Reports Q4 revenue $115.4M, consensus $115.67M. Denny’s domestic system-wide same-restaurant sales were 1.3% compared to the equivalent fiscal period in 2022, including 1.5% at domestic franchised restaurants and (1.2)% at company restaurants. Kelli Valade, CEO, stated, “We were pleased to close out 2023 with solid Denny’s domestic system-wide same-restaurant sales of 1.3% in the fourth quarter, reflecting sequential improvement throughout the quarter, while also achieving results above the high-end of our previously guided range for the full year. We enter 2024 with growing momentum by focusing on our key strategic levers: a best-in-class breakfast with craveable items, an unbeatable value proposition, and convenience in the form of off-premises options.”