Carrols Restaurant Group (TAST) Misses Q1 EPS by 3c, Revenues Miss; Withdraws FY20 Guidance

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Carrols Restaurant Group, Inc. Reports Financial Results for the First Quarter 2020 and Provides Business Update

May 7, 2020 7:00 AM EDT

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Carrols Restaurant Group, Inc. (Carrols or the Company) (Nasdaq: TAST) today reported financial results for the first quarter ended March 29, 2020 and provided a business update.

Highlights for the First Quarter of 2020 versus the First Quarter of 2019 Include:

Total revenue increased 20.9% to $351.5 million (including $67.4 million in restaurant sales from restaurants acquired in the Cambridge acquisition completed in the second quarter of 2019) from $290.8 million in the prior year quarter; Comparable restaurant sales for the Companys Burger King® restaurants decreased 5.7%... More