As Former Chief Concept Officer at Panera Bread, Davis led culinary development, category management, restaurant design, and sustainability efforts.At Panera, Davis launched key innovations that drove significant lunch and dinner traffic growth. BROOMFIELD, Colo., June 12, 2024 (GLOBE NEWSWIRE) -- Noodles & Company (NASDAQ: NDLS) today announced the appointment of Scott Davis as Chief Concept Officer, effective June 19, 2024. “Scott brings an unmatched track record of concept development and innovation suc ...

BROOMFIELD, Colo., June 10, 2024 (GLOBE NEWSWIRE) -- Noodles & Company (NDLS), the national fast-casual chain known for its globally-inspired noodle bowls, best-in-class service, and values-centric culture, has appointed Britain Peakes as a director on its Board of Directors (Board), effective June 10, 2024. Ms. Peakes is a seasoned finance and investment professional with experience in both private and public markets. As a principal investor at Hoak & Co., she oversees a comprehensive range of responsibili ...

Noodles & Company (NASDAQ:NDLS) Q1 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Mike Hynes - CFO Drew Madsen - CEO Conference Call Participants Todd Brooks - The Benchmark Company Jake Bartlett - Truist Securities Andy Barish - Jefferies Jake Bartlett - Truist Securities Operator Good afternoon, and welcome to today's Noodles & Company First Quarter 2024 Earnings Conference Call. All participants are in listen-only mode. After the presenters' remarks, there will be a question-an ...

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]

Core Viewpoint - Noodles & Company is focusing on expansion in the Pacific Northwest through a multi-unit franchise agreement with DND Group Inc., which includes acquiring six existing locations and opening ten new restaurants in the Portland area [1] Expansion Initiatives - The company aims to grow its franchise presence in southern and southeastern markets, specifically targeting Alabama, Florida, Georgia, Texas, and Oklahoma in 2024 [2] - In fiscal 2023, Noodles & Company opened 18 company-owned restaurants, bringing the total to 470 restaurants system-wide as of January 2, 2024, which includes 380 company-owned and 90 franchise restaurants [2] - For fiscal 2024, the company plans to open 10-12 company-owned restaurants and up to three franchise-owned restaurants [2] Price Performance - Year-to-date, shares of Noodles & Company have decreased by 60.3%, contrasting with a 1.5% decline in the Retail - Restaurants industry [3] - The decline in comparable restaurant sales due to lower guest traffic, along with increased costs and expenses, has negatively impacted the company's performance [3] Growth Potential - Despite current challenges, the company's expansion initiatives, digital capabilities, and focus on menu transformation are expected to support growth momentum [4] - For fiscal 2024, Noodles & Company anticipates comparable restaurant sales growth to be between flat and 3% year-over-year [4]

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 ...