From GlobeNewswire: 2025-02-12 07:00:00

Denny’s Corporation reported strong results for the fourth quarter and full year of 2024. Total operating revenue was $114.7 million for the quarter, with Denny’s domestic same-restaurant sales up by 1.1% and Keke’s up by 3.0%. The company opened new locations and completed multiple remodels, showing positive growth in both brands. Adjusted EBITDA increased by 11.1% to $22.2 million in the quarter.

For the full year of 2024, total operating revenue was $452.3 million, with Denny’s domestic same-restaurant sales down by 0.2% and Keke’s down by 1.7%. The company opened 12 new Keke’s cafes and completed 23 remodels. Adjusted EBITDA for the year was $81.4 million.

Denny’s Corporation has made changes to its non-GAAP financial measures to provide more clarity and comparability. The company uses adjusted EBITDA, adjusted net income, and adjusted net income per share internally for planning and compensation purposes. Adjustments are made for certain items not considered in the evaluation of ongoing core operating performance.

The company’s restaurant-level operating margins for both company and franchise operations were positive in the fourth quarter and full year of 2024. Adjusted company restaurant operating margin was $5.9 million for the quarter and $25.8 million for the full year. Adjusted franchise operating margin was $31.9 million for the quarter and $123.0 million for the full year.

In terms of unit activity, Denny’s and Keke’s saw a net change of -26 and +8 units, respectively, in the fourth quarter of 2024. For the full year, Denny’s had a net change of -74 units, while Keke’s had a net change of +11 units. The company continues to focus on growth and expansion in both brands.



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