Noodles & Company (NDLS) Reports In-Line Q3 EPS; Guides EPS Below the Street

November 3, 2016 4:16 PM EDT
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Noodles & Company (NASDAQ: NDLS) reported Q3 EPS of ($0.04), in-line with the analyst estimate of ($0.04). Revenue for the quarter came in at $122.7 million versus the consensus estimate of $122.31 million.

GUIDANCE:

Noodles & Company sees FY2016 EPS of ($0.15)-($0.19), versus the consensus of ($0.12). Noodles & Company sees FY2016 revenue of $486-490 million, versus the consensus of $490.48 million.

Dave Boennighausen, Chief Financial Officer and interim Chief Executive Officer of Noodles & Company, stated, “Despite the results of the third quarter, I am convinced that we are making important progress, implementing strategies to increase operational consistency, enhance our menu, and improve our profitability. While the opportunity for substantial improvement in our financial performance will take time, we are seeing steady progress in our top-line results and are positioning the Company to improve long-term shareholder value.”

Boennighausen continued, “We are also embarking on a two-pronged strategy to immediately improve our team and guest member experience across all of our restaurants, while implementing tests of several culinary, operational, and marketing initiatives to bring the brand back to superior performance. At the same time, we recognize the burden that certain recently opened and underperforming restaurants have had on our financial and human capital resources, and are actively evaluating strategies to address these restaurants so that our resources can be deployed towards restaurants with greater earnings potential.”

For earnings history and earnings-related data on Noodles & Company (NDLS) click here.



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