Denny's Corp (NASDAQ: DENN) reported Q4 EPS of ($0.05), $0.04 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $80.1 million versus the consensus estimate of $80.05 million.

Fourth Quarter 2020 Highlights

• Domestic system-wide same-store sales** decreased 32.9%.
• Completed five remodels at franchised restaurants.
• Franchise Operating Margin* was $21.4 million, or 45.2% of franchise and license revenue, and Company Restaurant Operating Margin* was $1.4 million, or 4.3% of company restaurant sales.
• Adjusted Net Loss* was $3.0 million, or $0.05 per diluted share.
• Approximately $2.0 million of Adjusted EBITDA* was attributable to an additional operating week.
• Adjusted Free Cash Flow* was $2.1 million.

John Miller, Chief Executive Officer, stated, “While 2020 was a year of unprecedented challenges, Denny's operators diligently protected the health and well-being of our guests and restaurant teams, while embracing innovative solutions like curbside pickup, drive up ordering and outdoor dining in an ever-evolving environment. We have since entered 2021 with confidence in our team's ability to continue navigating near-term headwinds and remain optimistic for the anticipated economic recovery. Our confidence is supported by an increasing distribution of vaccines, fiscal stimulus that should benefit our franchisees and consumers, and our rollout of two new virtual concepts where test results have been favorable and suggest a high degree of incremental transactions.”

Business Outlook

Given the dynamic and evolving impact of the COVID-19 pandemic on the Company's operations and uncertainty about the timing and extent of an anticipated recovery, the Company cannot reasonably provide a business outlook for the fiscal year ending December 29, 2021 at this time.

For earnings history and earnings-related data on Denny's Corp (DENN) click here.