Noodles & Company (NDLS) Tops Q3 EPS by 5c, provides outlook

Noodles & Company (NASDAQ: NDLS) reported Q3 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $127.9 million versus the consensus estimate of $126.13 million.

Business Outlook:

Based upon management’s current assessment following third quarter results, the Company has revised guidance related to its 2023 performance. The following is now expected for the full year 2023:

Total revenue of $502 million to $506 million, from prior guidance of $500 million to $510 million and versus the consensus of $504.7 million
Negative low single-digit Comparable Restaurant Sales;
Restaurant contribution margin of approximately 15.0%, from prior guidance of 14.5% to 15.0%;
General & administrative expense of $50 million to $52 million, inclusive of non-cash stock-based compensation expense and $200,000 of corporate restructuring costs, from prior guidance of $50 million to $53 million;
Adjusted EBITDA of $36 million to $40 million, from prior guidance of $35 million to $40 million;
Depreciation and amortization of $26.0 million to $27.0 million, from prior guidance of $26.5 million to $27.5 million;
Disposal of assets of $3.0 million to $3.5 million;
Net interest expense of $4.5 million to $5.0 million;
Stock-based compensation of $4.5 million to $5.5 million, from prior guidance of $5.5 million to $6.5 million;
Adjusted EPS of ($0.08) to $0.00, from ($0.11) to $0.00, including the benefit from our new share repurchase program;
Approximately 5.0% new restaurant growth system-wide, with a majority of openings being company-owned; and
Capital expenditures of $45 to $50 million in 2023.

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

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