Noodles & Company (NASDAQ: NDLS) reported Q1 EPS of $0.02, $0.03 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $109.6 million versus the consensus estimate of $104.03 million.

Business Outlook:

Due to the continuing uncertainty surrounding the future impact of the COVID-19 pandemic and its potential impact on the Company’s near-term operations, Noodles & Company is not providing full financial guidance for fiscal year 2021. However, the Company is providing the following expectations within 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.

The Company is also maintaining its accelerated growth objectives outlined earlier in 2021, including the following:

• System-wide unit growth of at least 7% annually beginning in 2022, quickly reaching 10% annual growth on a path to at least 1,500 units;
• Average unit volumes of $1.45 million by 2024; and
• Restaurant contribution margin of 20% by 2024.

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