Popeyes Louisiana Kitchen (PLKI) Misses Q1 EPS by 6c; Guides In-Line

Popeyes Louisiana Kitchen (NASDAQ: PLKI) reported Q1 EPS of $0.58, $0.06 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $82.2 million versus the consensus estimate of $84.96 million.

Total domestic same-store sales increased 1.1%, compared to a 7.1% increase in the first quarter of 2015. International same-store sales increased 6.2%, compared to a 6.1% increase in the first quarter of 2015.

“We are on track to deliver our 2016 full year guidance and we are confident in our future outlook as we make progress against our new, next generation Strategic Roadmap. We reported global same-store sales of 1.6% and earnings per diluted share of $0.58 during the first quarter, which was in line with our expectations. Despite the very promotional QSR landscape, our guests continue to value our quality food and innovative new product offerings and respond well to selective promotions of our core products,” said Cheryl Bachelder, Popeyes Chief Executive Officer. “We are excited about our future as we begin executing our key strategies, which will help us to achieve our long term growth goals.”

GUIDANCE:

Popeyes Louisiana Kitchen sees FY2016 EPS of $2.10-$2.15, versus the consensus of $2.14. System-wide same-store sales growth in the range of 2.0% to 3.0%.

For earnings history and earnings-related data on Popeyes Louisiana Kitchen (PLKI) click here.

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