Del Taco Restaurants (TACO) Reports In-Line Q2 EPS; Raises Outlook

Del Taco Restaurants (NASDAQ: TACO) reported Q2 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $108.6 million versus the consensus estimate of $107.09 million.

GUIDANCE:

Del Taco Restaurants sees FY2017 EPS of $470.00-$476.00, versus the consensus of $471.80.

Fiscal Year 2017 Guidance

We are raising key elements of our guidance for fiscal year 2017, which is a 52-week period ending January 2, 2018, and reaffirming other elements:

• System-wide comparable restaurant sales growth of approximately 3.5% to 4.5% (previously 2.0% to 4.0%);
• Total revenue between $470 million and $476 million (previously $466 million and $476 million);
• Total company-operated restaurant sales between $452 million and $458 million (previously $448 million and $458 million);
• Restaurant contribution margin between 19.8% and 20.3% (reaffirming);
• General and administrative expenses of between approximately 8.2% and 8.4% of total revenue(previously 8.1% and 8.5%);
• Effective tax rate of approximately 40.0% (reaffirming);
• Diluted earnings per share of approximately $0.52 to $0.55 (reaffirming);
• Adjusted EBITDA between $71.5 million and $73.5 million (previously $71.0 million and $73.5 million);
• 23 to 26 new system-wide restaurant openings (reaffirming); and
• Net capital expenditures totaling approximately $43.0 million to $46.0 million (reaffirming)

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

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