BurgerFi International, Inc. (BFI) Misses Q4 EPS by 21c, offers outlook

BurgerFi International, Inc. (NASDAQ: BFI) reported Q4 EPS of ($0.40), $0.21 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $41.5 million versus the consensus estimate of $40 million.

2024 Outlook

Management is updating its outlook for the fiscal year 2024:

Annual revenues of $170-$180 million, versus the consensus of $173.4 million.
Low-single digit same-store sales growth for corporate-owned locations
10 - 15 new restaurants, (9-14 franchised), including one new franchised Anthony's and our corporate-owned New York City BurgerFi flagship opened in March;
Continued improvement in cost of goods driven by increased adoption of inventory management at both brands
Adjusted EBITDA of $7 to $9 million; and
Capital expenditures of approximately $2-3 million

For earnings history and earnings-related data on BurgerFi International, Inc. (BFI) click here.

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