Millions of People Will Soon Be Blindsided. Will You Be One of Them?

On April 20 at 7 p.m. ET, Louis Navellier and Matt McCall will reveal an event that’s about to rock the stock market and how you could use it to beat the markets by nearly 11X.

Tue, April 20 at 7:00PM ET

Denny’s (DENN) Stock Slides Following Q2 Earnings Report

Denny’s (NASDAQ:DENN) reported its latest quarterly earnings results, which sent shares on the decline despite a revenue increase compared to the year-ago quarter.

Denny's (DENN)The restaurant chain said that for its second quarter of fiscal 2018 it amassed net income of $11.6 million, or 18 cents per diluted share. On an adjusted basis, the company’s net income was $11.7 million, or 18 cents per diluted share.

Denny’s added that its total operating revenue was 18% higher than it was during the year-ago quarter, arriving at $157.3 million. This increase was due in large part to the benefit of revenue recognition changes.

The chain’s domestic system-wide same-store sales were down by about 0.7% compared to the year-ago quarter. This figure included a 0.1% dip at company restaurants and a 0.8% slide at domestic franchised restaurants, due in large part to a negative holiday season.

“Although sales were challenged by a formidable year-ago comparison, a negative holiday shift, and a highly competitive value environment, we generated strong total operating margins through effective cost management and grew Adjusted Net Income Per Share* by 28.2%,” said Denny’s CEO and President John Miller.

“Going forward, we remain committed to delivering positive and profitable system sales growth by executing our on-going brand revitalization strategy, enhancing the overall guest experience, and expanding our global reach.”

DENN stock was down about 0.9% during regular trading hours in anticipation of the company’s quarterly earnings results, which sent shares down about 3.4% after the bell Monday.

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC