Chuy's Holdings (NASDAQ: CHUY) reported Q2 EPS of $0.31, in-line with the analyst estimate of $0.31. Revenue for the quarter came in at $94.5 million versus the consensus estimate of $95.56 million.

Steve Hislop, President and Chief Executive Officer of Chuy’s Holdings, Inc. stated, “Despite ongoing challenges in the restaurant industry, we remain focused on fundamentals and execution at the store level, to ensure we provide our guests with high-quality food and great service in an upbeat environment. In addition, we are redoubling our efforts with regard to local store marketing and continue to refine our social media strategies in order to increase awareness of the Chuy’s brand.”

Hislop added, “While we’re pleased with our new unit performance to date, for the full year we are refining our development target to 12 new restaurants - the lower end of our previous range. Additionally, we’re continuing to review our 2018 pipeline, as we believe it makes sense to temper the speed of our new unit openings given the uncertainty of industry-wide sales, while keeping an eye on creating the best returns for our shareholders. We currently expect 2018 openings to range between 8 and 12 units. Our strong balance sheet gives us the flexibility to thoughtfully manage our development in the near-term, and the ability to use our excess capital in other ways to create value to our shareholders. We continue to believe we have substantial room for growth ahead of us and remain excited about the long-term prospects of the Chuy’s brand.”

GUIDANCE:

Chuy's Holdings sees FY2017 EPS of $1.04-$1.08, versus previous range of $1.11 to $1.15 and the consensus of $1.09.

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