Noodles & Company (NDLS) reported mixed results in first-quarter fiscal 2024, with earnings topping the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line declined on a year-over-year basis. Following the results, the company’s shares fell 9.8% during after-hours trading on May 8.Earnings & Revenue DiscussionDuring the fiscal first quarter, the company reported an adjusted loss per share of 13 cents, narrower than the Zacks Consensus Estimate of a loss of 20 cents. The compa ...

Noodles & Co. (NDLS) reported $121.4 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.7%. EPS of -$0.13 for the same period compares to -$0.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $122.17 million, representing a surprise of -0.63%. The company delivered an EPS surprise of +35.00%, with the consensus EPS estimate being -$0.20.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Noodles & Co. (NDLS) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35%. A quarter ago, it was expected that this restaurant chain would post a loss of $0.01 per share when it actually produced a loss of $0.07, delivering a surprise of -600%.Over the last four quarters, the company has surpa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION | --- | --- | --- | |-------|--------------------------|---------------------------------------------------------------| | | WASHINGTON, DC 20549 | _____________________________________________________________ | | | FORM 10-Q | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

Revenue and Sales Performance - Total revenue decreased 3.7% to $121.4 million from $126.1 million in the first quarter of 2023[2] - Comparable restaurant sales decreased 5.4% system-wide, with a 5.7% decrease at company-owned restaurants and a 4.5% decrease at franchise restaurants[2] - The company expects total revenue of $510 million to $525 million for the full year 2024, including flat to +3% comparable restaurant sales growth[4] - Company-owned comparable restaurant sales increased by 6.9% in the latest period, while franchise comparable restaurant sales rose by 4.1%[19] - System-wide comparable restaurant sales grew by 6.4% in the latest period[19] Financial Losses and Margins - Net loss was $6.1 million, or $0.14 loss per diluted share, compared to net loss of $3.1 million, or $0.07 loss per diluted share, in the first quarter of 2023[2] - Operating margin was (3.4)% compared to (1.8)% in the first quarter of 2023[2] - Restaurant contribution margin was 13.1% compared to 13.7% in the first quarter of 2023[2] - Net loss for the fiscal quarter ended April 2, 2024, was $(6,140) thousand, compared to $(3,115) thousand in the same period last year[21] - Adjusted net loss for the fiscal quarter ended April 2, 2024, was $(5,827) thousand, compared to $(2,726) thousand in the same period last year[23] - Restaurant contribution margin decreased to 13.1% in the fiscal quarter ended April 2, 2024, from 13.7% in the same period last year[26] Cash, Debt, and Liabilities - The company had available cash and cash equivalents of $1.3 million and outstanding debt of $83.0 million as of April 2, 2024[3] - Total current assets as of January 2, 2024, were $22,624 million, with total assets at $368,095 million[18] - Total long-term debt stood at $80,218 million, and total liabilities were $340,935 million as of January 2, 2024[18] Expansion and Capital Expenditures - The company plans to open 10-12 company-owned restaurants and up to 3 franchise-owned restaurants in 2024[4] - Capital expenditures for 2024 are expected to be between $28 million and $32 million[4] Adjusted EBITDA and Restaurant Contribution - Adjusted EBITDA for the fiscal quarter ended April 2, 2024, was $5,499 thousand, down from $6,181 thousand in the same period last year[21] - Restaurant contribution for the fiscal quarter ended April 2, 2024, was $15,592 thousand, with a restaurant contribution margin of 13.1%[26] Share Information - Weighted average common shares outstanding (basic) were 45,079,355 for the fiscal quarter ended April 2, 2024, down from 46,115,506 in the same period last year[23] Quarterly Performance Update - The company reported a strong start to the second quarter with positive comparable sales and traffic growth in April[2]

With the aim of further growth in the Pacific Northwest market, Noodles & Company (NDLS) entered into a multi-unit franchise agreement with DND Group Inc. This agreement encompasses the immediate acquisition of six restaurant locations and the opening of a total of 10 new restaurants in the Portland, OR area.The franchise agreement for the six restaurant locations is an exclusive development agreement in a few of the most populous cities in Oregon, comprising Portland, Eugene, Bend and Yakima-Kennewick-Pasc ...

BROOMFIELD, Colo., April 18, 2024 (GLOBE NEWSWIRE) -- Noodles & Company (NASDAQ:NDLS) today announced that it will host a conference call to discuss its first quarter 2024 financial results on Wednesday, May 8, 2024 at 4:30 p.m. ET. Drew Madsen, Chief Executive Officer, and Mike Hynes, Chief Financial Officer, will host the call. A press release with first quarter 2024 financial results will be issued after the market close that same day. To access the live conference call, please click on the registration ...

Noodles & Company (NDLS) had a tough 2023 as sales slowed. This Zacks Rank #5 (Strong Sell) is expected to see negative earnings in 2024 as it tries a menu reboot.Noodles & Company operates 470 restaurants across the United States serving noodle dishes from Wisconsin Mac & Cheese to better-for-you Zoodles.A Miss in the Fourth Quarter of 2023On Mar 7, Noodles & Company reported fourth quarter and fiscal year 2023 results and missed on earnings by $0.06. Earnings were a loss of $0.07 compared to the Zacks Con ...

Noodles & Company (NDLS) reported dismal fourth-quarter fiscal 2023 results, with earnings and revenues missing Zacks Consensus Estimate. The top and the bottom line declined on a year-over-year basis. Following the results, the company’s shares fell 6% during after-hours trading on Mar 7.Earnings & Revenue DiscussionDuring the fiscal fourth quarter, the company reported adjusted loss per share of 7 cents, wider than the Zacks Consensus Estimate of a loss of 1 cent. The company reported an adjusted earnings ...

Noodles & Company (NASDAQ:NDLS) Q4 2023 Earnings Conference Call March 7, 2024 4:30 PM ET Company Participants Mike Hynes - Chief Financial Officer Drew Madsen - Chief Executive Officer Conference Call Participants Todd Brooks - The Benchmark Company Jake Bartlett - Truist Securities Andrew Barish - Jefferies Operator Good day, and thank you for standing by. Welcome to the Noodles & Company Fourth Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speak ...