Denny’s earnings (NASDAQ:DENN) were reported late in the day on Tuesday afternoon and the company’s profit was in line with expectations, while its revenue was ahead of the mark, yet DENN stock was falling after the bell.
The Spartanburg, S.C.-based diner chain said that for its fourth quarter of its fiscal 2018, it posted adjusted net income of $11.7 million, which amounted to roughly 18 cents per diluted share. This figure was in line with what analysts were calling for in their consensus estimate.
Denny’s added that its adjusted EBITDA for the period tallied up to $28.4 million, while its comparable sales increased by roughly 2.1% compared to the year-ago quarter at company-owned stores. The company brought in revenue of $159.5 million for the period, which topped the $158.23 million that the Wall Street consensus guidance projected.
During the period, the chain remodeled a total of 41 franchised restaurants, while its domestic system-wide same-store sales saw an increase of 1.4%, 1.2% of which were at domestic franchised restaurants. Denny’s said that for its first quarter, it sees its same-store sales at company domestic franchised restaurants to grow between 0% and 2%.
Plus, the company plans on opening 35 to 45 new restaurants over the period, while its restaurant operating margin is slated to decrease between 15% and 16.5%.
DENN stock was declining a fraction of a percentage during regular trading hours in anticipation of the company’s quarterly earnings results. Once it did post its figures late in the day, shares were sliding about 0.8% after the bell.