Fiesta Restaurant (FRGI) Misses Q4 EPS by 8c

Fiesta Restaurant (NASDAQ: FRGI) reported Q4 EPS of ($0.04), $0.08 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $159.5 million versus the consensus estimate of $166.41 million.

Full Year 2020 Outlook

• Driven in part by off premise sales growth, we expect to return Pollo Tropical to positive comparable restaurant sales in 2020, with sequential growth over the course of the year as we ramp up off premise sales through delivery, catering and online;
• We are working to stabilize comparable restaurant sales at Taco Cabana, and expect to achieve sequential improvement over the course of the year, although trends during the first half of 2020 are likely to be negative;
• Food costs are projected to remain stable vs. the prior year based on current supply commitments we already have in place across key commodities;
• Restaurant-level Adjusted EBITDA margins at Pollo Tropical are expected to be stable vs. 2019 while we are targeting a 200 to 300 basis point improvement at Taco Cabana, driven by efficiency and operations simplification initiatives; and
• Capital expenditures are expected to be at or below the 2019 level of approximately $41 million.

For earnings history and earnings-related data on Fiesta Restaurant (FRGI) click here.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• Grainger (GWW) Tops Q1 EPS by 2c, provides guidance
• Tractor Supply (TSCO) Tops Q1 EPS by 12c ; Offers Guidance