Noodles & Company (NDLS) Misses Q2 EPS by 1c, Revenue Beats

Noodles & Company (NASDAQ: NDLS) reported Q2 EPS of $0.10, $0.01 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $125.6 million versus the consensus estimate of $123.32 million.

• Comparable restaurant sales increased 56.8% system-wide, comprised of a 55.7% increase at company-owned restaurants and a 63.8% increase at franchise restaurants.

Business Outlook:

Boennighausen concluded, “Our performance during 2020, and over the past several months, gives me confidence that we are well positioned to navigate any market environment given the strength of our menu, our off-premise capabilities and our digital platform. Given that market challenges and uncertainties remain, particularly on the potential impact of the Delta COVID variant, we are not providing full financial guidance for fiscal 2021.” The Company is, however, providing the following expectations for 2021:

10 to 15 new restaurants system-wide in 2021, including eight to eleven company-owned locations; and
Capital expenditures of $20 million to $24 million in 2021.

For earnings history and earnings-related data on Noodles & Company (NDLS) click here.

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