Fogo de Chao (FOGO) Reports In-Line Q3 EPS, Trims Outlook

Fogo de Chao (NASDAQ: FOGO) reported Q3 EPS of $0.18, in-line with the analyst estimate of $0.18. Revenue for the quarter came in at $61 million versus the consensus estimate of $61.13 million.

Fogo de Chao sees FY2015 revenue of $271 million, versus prior guidance of $273 million and the consensus of $272.17 million.

"We are pleased with our results this quarter and remain excited about the growth opportunities ahead," said Larry Johnson, Chief Executive Officer of Fogo de Chão, Inc. "Total sales growth was 7.4% for the quarter when adjusted for foreign currency and lapping the 2014 World Cup benefit in Brazil. U.S. comparable restaurant sales increased by 2.8%, successfully rolling over an impressive 5.3% for the same quarter last year.

"We are confident we can deliver long-term annual EPS growth of 18% to 20% driven by expansion in our restaurant base, increase in comparable restaurant sales, leverage on operating and G&A costs, and preserving our strong four wall restaurant margins as we grow," said Johnson.

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

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