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Denny's Corporation (NASDAQ: DENN ) posted above-average quarterly earnings results after hours Tuesday.
The company completed 69 remodels, including 67 at franchised restaurants, and opened 14 system restaurants, including three international franchised locations. Denny's operating income popped 17.7% to $18.9 million.
Its net income was $13.1 million, or 19 cents per diluted share, while its adjusted net income was $12.2 million, or 18 cents per share. Adjusted earnings rose 7.6% to 27.8 million and the company generated $15.3 million of adjusted free cash flow after capital expenditures.
For the full year, Denny's saw its domestic system-wide same-store sales rise 1.1%, including a 1% gain at company restaurants and a 1.1% increase at domestic franchised restaurants.
The chain completed 250 remodels, including 247 at franchised restaurants, and opened 39 system restaurants, including seven international franchised locations. Its operating income surged 50.4% to $70.7 million.
Denny's posted a net income of $39.6 million for the full year, or 56 cents per share, while its adjusted net income was $40.7 million. Its adjusted net income per share was 58 cents per share and its adjusted earnings per share gained 2.3% to $101.7 million.
The restaurant operation raked in $50.1 million of adjusted free cash flow after cash capital expenditures and allocated $82.9 million towards share repurchases.
DENN stock was trading flat after the bell Tuesday.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
