Denny's Corp surges on upbeat Q4 results

Dennys

13/02/2023 21:59

** Shares of restaurant chain Denny's Corp  DENN.O  up 2.4%
at $12.44 in extended trading 
    ** Co posts Q4 revenue of $120.8 mln, beating estimates of
$120.5 mln, per Refinitiv, benefiting from price increases 
    ** DENN reports adj. net income/shr of $0.18 vs expectations
of $0.16
    ** "We were pleased to deliver adjusted EBITDA that was
slightly above the high-end of our previously guided range for
the fourth quarter given the persistent choppy operating
environment," says CEO Kelli Valade
    ** The restaurant chain expects 2023 domestic system-wide
same-restaurant sales between 3% and 6%, while it sees FY 2023
commodity inflation between 4% and 6%
    ** The company expects 2023 consolidated adj. EBITDA between
$86 million and $90 million
    ** Up to Monday's close, stock had fallen 26.4% in the past
12 months 
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth))