Zoe's Kitchen, Inc. (ZOES) Misses Q2 EPS by 2c, Miss on Revenues; FY17 Revenue Guidance Mid-Point Above Consensus

Zoe's Kitchen, Inc. (NYSE: ZOES) reported Q2 EPS of $0.00, $0.02 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $74.3 million versus the consensus estimate of $75.07 million.

FY 2017 Outlook

For the fiscal year ending December 25, 2017, the Company is confirming its outlook:

• Total revenue between $314.0 million and $322.0 million (unchanged from previous guidance).
• Comparable restaurant sales of flat to negative 3.0% (unchanged from previous guidance).
• 38 to 40 Company-owned restaurant openings (unchanged from previous guidance).
• Restaurant contribution margin between 18.3% and 19.0% (unchanged from previous guidance).
• General and administrative expenses between 10.7% and 10.9% of total revenue, inclusive of $3.2 million of non-cash equity based compensation expense (unchanged from previous guidance).

GUIDANCE:

Zoe's Kitchen, Inc. sees FY2017 revenue of $314-322 million, versus the consensus of $315.54 million.

Highlights for the twelve weeks ended July 10, 2017, as compared to the twelve weeks ended July 11, 2016:

• Total revenue increased 12.1% to $74.3 million.
• Comparable restaurant sales decreased 3.8%.
• 13 new Company-owned restaurants opened.
• Income from operations decreased 60.9% to $1.1 million.
• Restaurant contribution* decreased 1.6% to $14.1 million, or 19.0% of restaurant sales.
• Net income was $0.6 million, or $0.03 per basic and diluted share, compared to net income of $1.2 million, or $0.06 per basic and diluted share.
• Adjusted EBITDA* decreased 1.2% to $7.1 million.
• Adjusted net income* was $0.1 million, or $0.00 per diluted share, compared to adjusted net income of $1.2 million, or $0.06 per diluted share.

For earnings history and earnings-related data on Zoe's Kitchen, Inc. (ZOES) click here.

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