Denny's Shares Fall Following Disappointing Q3 Financial Results: Details
Portfolio Pulse from Nabaparna Bhattacharya
Denny's Corporation (NASDAQ:DENN) shares fell by 17.3% after the company reported disappointing Q3 financial results. The company missed analyst expectations for both earnings per share and sales, and reported a decline in same-restaurant sales. Operating income and margins also decreased, primarily due to increased marketing and occupancy costs. Denny's revised its outlook for domestic same-restaurant sales and adjusted EBITDA downwards.
October 22, 2024 | 4:52 pm
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Denny's reported Q3 earnings and sales below expectations, leading to a 17.3% drop in share price. The company also revised its outlook downwards, citing increased costs and a decline in same-restaurant sales.
Denny's missed analyst expectations for both earnings per share and sales, which is a negative indicator for investors. The decline in same-restaurant sales and lower operating margins further contribute to the negative sentiment. The company's revised outlook, with lower expected same-restaurant sales and adjusted EBITDA, suggests potential challenges ahead, leading to a significant drop in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100