Newly public chain
(CHUY - Get Report)
also reported better-than-expected results, beating estimates on both revenue ($47.9 million versus $43.9 million) and earnings (13 cents versus 12 cents). The Mexican restaurant chain, which went public in July, is up 8% in pre-market trading, and more than 60% since it began trading.
(DIN - Get Report)
, parent of Applebee's and IHOP, also reported a strong quarter, beating the consensus on revenue ($216.3 million versus $202.6 million), and earnings ($1.03 versus 93 cents). The company has adopted a "re-franchising" strategy, similar to
(DENN - Get Report)
, selling company-owned Applebee's restaurants to franchisees, helping to reduce the company's debt load to about $1.2 billion, from $1.8 billion at the end of 2010.
Denny's,) which has staged a remarkable comeback the past several years, barely beat the consensus on revenue ($120.9 million from $120.6 million), but missed badly on earnings (6 cents from 9 cents). On a positive note, the company reduced total debt by about $9 million, and repurchased one million shares during the quarter.
Denny's also opened 12 new units (franchised), and signed a deal to open 10 in Chile. Sometimes it's hard to believe that this older chain, that was bankrupt not all that long ago, is actually growing. I thought I was seeing things on the way to the airport following a mission trip in the Dominican Republic this past summer, but there it was, a huge billboardfor the new Denny's at the Santo Domingo airport, the first in that country. This company seemingly has nine lives.
DENN Long Term Debt
To those who are surveying the damage today and trying to figure out how to move forward, my thoughts and prayers are with you.
At the time of publication the author had a position in DENN.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.