Chuy's Holdings (CHUY) Misses Q1 EPS by 6c; Withdraws Guidance

Chuy's Holdings (NASDAQ: CHUY) reported Q1 EPS of $0.01, $0.06 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $94.5 million versus the consensus estimate of $96.91 million.

Comparable restaurant sales decreased 9.7%. Through the first 10 weeks of the quarter, comparable restaurants sales increased 3.3%.

Steve Hislop, President and Chief Executive Officer of Chuy’s Holdings, Inc. stated, “I’m extremely proud of our entire Chuy’s family as they continue to rise to the challenge of serving our guests safely and adapting our restaurant operations in response to the COVID-19 crisis. We’re pleased that many of our guests opted to celebrate Cinco de Mayo and Mother’s Day with Chuy’s take-out or delivery during May, which we view as a testament to the appeal of our made from scratch offerings, even when consumed at home.” Hislop added, “As states have started a staged approach to opening local businesses, we are excited to have begun the process of re-opening our dining rooms in an orderly fashion. We will continue to work closely with state and local health officials to prioritize the safety and well-being of our guests and employees as we welcome everyone back into our restaurants.”

GUIDANCE:

Due to the ongoing uncertainty around the magnitude and duration of the COVID-19 pandemic, the company has withdrawn its previous financial guidance for fiscal year 2020.

For earnings history and earnings-related data on Chuy's Holdings (CHUY) click here.

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