Noodles & Company Earnings: Here’s Why Investors are Selling Shares Now
Noodles & Company (NASDAQ:NDLS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.41%.
Noodles & Company Earnings Cheat Sheet
Revenue: Was the same at $89.2 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Noodles & Company reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.12. It beat the average revenue estimate of $88.05 million.
Quoting Management: Kevin Reddy, Chairman and Chief Executive Officer of Noodles & Company, remarked: “We are pleased with our second quarter results, as our team’s efforts in creating a dining experience that we are proud of allowed us to complete our 15th consecutive quarter and 29 out of 30 quarters of positive comparable restaurant sales growth. Our EPS growth on adjusted net income of 35.6% was the result of continued hard work to bring our ‘Your World Kitchen’ positioning to life within our restaurants while expanding the brand through the opening of 13 additional restaurants system-wide. Moreover, the execution of our initial public offering on July 2nd has allowed us to pay off nearly all of our outstanding debt, giving us the capital flexibility to pursue our strategy of developing a ‘Category of One’ in the eating and drinking out space.”
Key Stats (on next page)…
Revenue increased 9.74% from $81.28 million in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)