Denny’s Corporation reported third-quarter results, including $113.2 million in total operating revenue and $10.4 million in total operating income. Domestic system-wide same-restaurant sales for Denny’s were down 2.9%, while Keke’s saw a 1.1% increase. The company opened new locations and completed remodels, with adjusted EBITDA at $19.3 million.

For the third quarter, total operating revenue was $113.2 million, up from $111.8 million the previous year, driven by additional Keke’s locations. Franchise and license revenue was $55.9 million, lower than the prior year due to fewer Denny’s equivalent units. Company restaurant sales were $57.4 million, primarily from new Keke’s units.

Denny’s Corporation announced a definitive agreement to be acquired by a group including TriArtisan Capital Advisors LLC, Treville Capital Group, and Yadav Enterprises, Inc. The merger is expected to close in the first quarter of 2026. As a result, Denny’s common stock will no longer be listed on the Nasdaq. The company will not host a conference call or provide financial guidance for fiscal year 2025.

The Company’s adjusted EBITDA for the quarter was $19.3 million, and adjusted net income was $4.2 million, or $0.08 per diluted share. Adjusted restaurant-level operating margin for Denny’s was 13.5%, while for Keke’s it was 52.0%. The Company’s total debt outstanding at the end of the quarter was $269.2 million.

Read more at GlobeNewswire: Denny’s Corporation Reports Results for Third Quarter 2025