Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Einstein Noah Restaurant Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 33.33% to $0.14 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 1.17% to $106.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Einstein Noah Restaurant Group, Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.22. It missed the average revenue estimate of $109.73 million.
Quoting Management: Jeff O’Neill, President and Chief Executive Officer, stated, “Our first quarter reflects the impact of challenging macro-economic trends and the holiday calendar shift, and most importantly, recognizes the upfront investment and roll-out of our new everyday value strategy. We successfully tested everyday value combos at breakfast and lunch last year and are encouraged by the sequential improvement in transactions at our Company-operated restaurants through the first quarter. Looking ahead, we believe we can build on our recent momentum through fresh-baked bagels and specialty beverages that provide our customers with both quality and value.”
Key Stats (on next page)…