Earnings To Watch: Denny's (DENN) Reports Q3 Results
Diner restaurant chain Denny’s (NASDAQ:DENN) will be reporting earnings today. Here's what to expect.
Last quarter Denny's reported revenues of $116.9 million, up 1.65% year on year, missing analyst expectations by 3.09%. It was a weak quarter for the company, with a miss of analysts' revenue and EPS estimates.
Is Denny's buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Denny's's revenue to decline 0.51% year on year to $116.9 million, a deceleration on the 13.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.15 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Denny's's peers in the sit-down dining segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. BJ's delivered top-line growth of 2.34% year on year, missing analyst estimates by 2.22% and Texas Roadhouse reported revenues up 12.9% year on year, inline with analyst estimates. BJ's traded down 2.3% on the results, Texas Roadhouse was down 1.7%.
Read our full analysis of BJ's's results here and Texas Roadhouse's results here.
The fears around raising interest rates have been putting pressure on tech stocks and while some of the sit-down dining stocks have fared somewhat better, they have not been spared, with share price declining 3.01% over the last month. Denny's is down 1.17% during the same time, and is heading into the earnings with analyst price target of $12.6, compared to share price of $8.5.
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The author has no position in any of the stocks mentioned.
