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All Reports:

Dine Brands Global (DIN)
Mark Kalinowski

DIN (Post-Call): Expects Adjusted EBITDA in Q4 Sequentially Lower than in Q3

Earlier today, Dine Brands reported third-quarter adjusted EPS of $1.46, above our $1.30 forecast and sell-side consensus (according to Consensus Metrix) of $1.27. We attribute much of the earnings beat coming from G&A/Revenues amounting to 24.0% in Q3, more favorable than our 25.3% forecast and consensus of 25.4%.

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Denny's Corporation (DENN)
Mark Kalinowski

DENN (Post-Call): Faces Some Macro Headwinds, But Keke’s New-Unit Agreements are Appetizing

After today’s (Monday’s) market close, Denny’s reported adjusted Q3 EPS of $0.17. This was above our $0.14 forecast and sell-side consensus (according to Consensus Metrix) of $0.15. The Q3 adjusted tax rate was 16.5%. This was more favorable than our 25.0% forecast and consensus at 25.1%. Compared to consensus, the 16.5% adjusted tax rate helped Q3 adjusted EPS by about +2 cents. Third-quarter adjusted EBITDA amounted to $22.2 million, basically in line with our $22.3 million projection, and matching consensus of $22.2 million.

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