Chuy's Holdings (CHUY) Tops Q1 EPS by 4c, Offers Guidance

Chuy's Holdings (NASDAQ: CHUY) reported Q1 EPS of $0.40, $0.04 better than the analyst estimate of $0.36. Revenue for the quarter came in at $110.5 million versus the consensus estimate of $111.67 million.

GUIDANCE:

Chuy's Holdings sees FY2024 EPS of $1.82-$1.87, versus the consensus of $1.85.

• The Company currently expects 2024 adjusted net income(1) per diluted share of $1.82 to $1.87. This compares to adjusted net income(1) per diluted share of $1.97 or $1.87 per diluted share, after excluding approximately $0.10 per diluted share from the extra week in 2023. The adjusted net income guidance for fiscal 2024 is based, in part, on the following annual assumptions:
• General and administrative expense of $29.0 to $30.0 million (on a 52-week comparable basis);
• Six to eight new restaurants;
• Net capital expenditures (net of tenant improvement allowances) of approximately $41 to $46 million;
• Restaurant pre-opening expenses of approximately $2.7 to $3.2 million;
• An effective annual tax rate (excluding unusual items) of approximately of 13% to 14%;
• Annual weighted diluted shares outstanding of approximately 17.4 million.

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

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