Del Taco Restaurants (TACO) Tops Q1 EPS by 1c, Slight Beat on Revenue; Reaffirms FY Revenue Guidance

Del Taco Restaurants (NASDAQ: TACO) reported Q1 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $105.3 million versus the consensus estimate of $105.21 million.

GUIDANCE:

Del Taco Restaurants sees FY2017 revenue of $466-476 million, versus the consensus of $473.78 million.

We are reaffirming the following guidance for fiscal year 2017, which is a 52-week period ending January 2, 2018:

• System-wide same store sales growth of approximately 2.0% to 4.0%;
• Total revenue between $466 million and $476 million;
• Total company-operated restaurant sales between $448 million and $458 million;
• Restaurant contribution margin between 19.8% and 20.3%;
• General and administrative expenses of between approximately 8.1% and 8.5% of total revenue, including incremental public company costs to support compliance with the Sarbanes-Oxley Section 404(b) requirement during fiscal 2018;
• Effective tax rate of approximately 40.0%;
• Diluted earnings per share of approximately $0.52 to $0.55;
• Adjusted EBITDA between $71.0 million and $73.5 million;
• 23 to 26 new system-wide restaurant openings; and
• Net capital expenditures totaling approximately $43.0 million to $46.0 million including approximately $16.0 to $17.0 million for new unit construction, approximately $12.5 to $13.5 million for capitalized maintenance, approximately $7.5 to $8.5 million for discretionary investment in equipment, technology and remodels, and up to approximately $7.0 million for land acquisition for development after 2017.

For earnings history and earnings-related data on Del Taco Restaurants (TACO) click here.

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