Fogo de Chao (FOGO) Tops Q2 EPS by 3c

Fogo de Chao (NASDAQ: FOGO) reported Q2 EPS of $0.25, $0.03 better than the analyst estimate of $0.22. Revenue for the quarter came in at $68.2 million versus the consensus estimate of $65.26 million.

U.S. restaurant revenue increased 11.6% to $56.1 million in the second quarter of 2015 from $50.3 million in the second quarter of 2014 primarily due to a 4.2% increase in comparable restaurant sales combined with an increase in sales from non-comp restaurants and sales from new unit development. The increase in U.S. comparable restaurant sales included an increase in traffic of 4.3% offset by a decrease in average guest check of 0.1%.

Brazil restaurant revenue decreased 33.8% to $12.1 million in the second quarter of 2015 from $18.3 million in the second quarter of 2014, driven largely by a $5.0 million foreign exchange impact and an 18.5% decrease in comparable restaurant sales as a result of lapping the World Cup sales benefit in the second quarter of 2014. Excluding the estimated sales benefit of the World Cup in last year's second quarter, comparable restaurant sales in Brazil would have decreased approximately 1.1%, primarily driven by significant protests in Brazil in the beginning of the second quarter. Total sales would have increased 8.0% adjusted for constant currency and World Cup.

For earnings history and earnings-related data on Fogo de Chao (FOGO) click here.

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