Papa Murphy's (FRSH) Tops Q2 EPS by 3c

Papa Murphy's (NASDAQ: FRSH) reported Q2 EPS of $0.07, $0.03 better than the analyst estimate of $0.04. Revenue for the quarter came in at $29.1 million versus the consensus estimate of $30.74 million.

2017 Financial Outlook

Based on current information, Papa Murphy’s Holdings, Inc. is providing the following full-year outlook for fiscal 2017, which ends on January 1, 2018:

• Domestic system-wide comparable store sales decline in the mid-to-low single digits, compared to previous guidance of growth in the range of -2% to flat;
• Domestic franchise new store openings of around 40 units, compared to previous guidance of between 60 and 75 units;
• Full-year refranchising of up to 35 company-owned units, compared to previous guidance of at least 15 company-owned units;
• Selling, general and administrative expenses of approximately $30 million, including one-time estimated severance and restructuring costs of $2.5 million, a full year incremental ADF deficit of approximately $1.0 million, and approximately $0.5 million of expenses related to the e-commerce transition, compared with previous guidance of approximately $28 million, including one-time severance and restructuring costs of $2.6 million;
• Adjusted EBITDA, excluding non-recurring impairment and closure costs and one-time severance and restructuring costs, of at least $20 million, compared with previous guidance of at least $24 million;
• Cash Used in Investing Activities of no more than $2 million, compared to previous guidance of between $2 million and $4 million;
• Cash Flow from Operations less Cash Used in Investing Activities of at least $15 million, consistent with previous guidance;
• Full-year effective book tax rate of approximately 34.3%, compared to previous guidance of approximately 43.8%; and
• Diluted share-count of approximately 16.8 million, consistent with previous guidance.

For earnings history and earnings-related data on Papa Murphy's (FRSH) click here.

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