Noodles & Co. (NDLS) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -71.43%. A quarter ago, it was expected that this restaurant chain would post a loss of $0.06 per share when it actually produced a loss of $0.05, delivering a surprise of 16.67%.Over the last four quarters, the company ...

Financial Performance - System-wide comparable restaurant sales decreased by 3.3% in Q3 2024 compared to Q3 2023, with a 3.4% decrease at company-owned restaurants and a 2.9% decrease at franchise-owned restaurants[63] - Total revenue decreased by $5.1 million, or 4.0%, to $122.8 million in Q3 2024 compared to $127.9 million in Q3 2023[91] - Restaurant revenue declined by $5.0 million, or 4.0%, to $120.2 million in Q3 2024 from $125.2 million in Q3 2023[90] - Net loss for Q3 2024 was $6.8 million, compared to a net income of $0.7 million in Q3 2023[90] - Total revenue decreased by $7.6 million, or 2.0%, to $371.5 million in the first three quarters of 2024 compared to $379.1 million in the same period of 2023[102] Operating Costs - Restaurant operating costs increased to 103.9% of total revenue in Q3 2024, compared to 98.4% in Q3 2023[88] - Labor costs increased to 32.0% of restaurant revenue in Q3 2024, up from 31.3% in Q3 2023[93] - The company incurred significant third-party delivery fees due to high usage of delivery services, impacting overall operating costs[67] - Labor costs decreased by $2.8 million, or 2.4%, as a percentage of restaurant revenue decreased to 31.8%[104] Restaurant Operations - In the first three quarters of 2024, the company opened ten new company-owned restaurants and two new franchise restaurants, while selling six company-owned restaurants to a franchisee[68] - The company expects to close a total of 10 to 15 company-owned restaurants in 2024 due to underperformance[69] - The company opened 3 new company-owned restaurants in Q3 2024, while closing 5, resulting in a total of 377 company-owned restaurants[85] - The company had 377 company-owned restaurants and 94 franchise restaurants in 31 states as of October 1, 2024[68] EBITDA and Expenses - EBITDA for Q3 2024 was $2.448 million, a decrease from $8.660 million in Q3 2023, while adjusted EBITDA was $4.896 million compared to $10.915 million in the same period[83] - General and administrative expenses rose by $1.0 million, or 8.7%, to $12.9 million in Q3 2024, representing 10.5% of total revenue[96] - Interest expense increased by $0.9 million, or 75.5%, in Q3 2024 due to higher average debt balances and interest rates[99] - General and administrative expenses increased by $1.5 million, or 4.0%, as a percentage of revenue increased to 10.6%[107] Cash Flow and Liquidity - Net cash provided by operating activities was $17.5 million, down from $27.3 million in the same period of 2023[114] - As of October 1, 2024, the cash balance was $3.3 million, compared to $3.0 million as of January 2, 2024[121] - The company expects to maintain sufficient cash flows from operations and available borrowings to meet liquidity needs for at least the next twelve months[121] Debt and Interest Rates - As of October 1, 2024, the company had $89.9 million of indebtedness and $3.0 million of letters of credit outstanding under its A&R Credit Agreement[126] - The average interest rate on outstanding borrowings during the first three quarters of 2024 was 8.67%, up from 8.0% during the same period in 2023, reflecting an increase in market base rates[129] - A 1.0% increase or decrease in the effective interest rate would result in a pre-tax interest expense fluctuation of approximately $0.9 million on an annualized basis[129] Inflation and Commodity Prices - Commodity inflation in Q3 2024 was less than 2%, showing improvement from historically high costs in 2022[65] - The company anticipates inflation may affect its results in the near future, with primary inflationary factors being food costs, labor costs, and energy costs[131] - Commodity price volatility is a risk, with potential impacts on restaurant operating costs as a percentage of revenue if menu prices are not adjusted accordingly[130] - The company has implemented risk management techniques in purchasing contracts to minimize price volatility from commodity prices[130] Future Plans - The company plans to introduce a revitalized menu starting late in Q3 2024 and continuing into 2025[64] - Capital expenditures are estimated to be approximately $29.0 million to $31.0 million for fiscal year 2024[119] Financial Ratios - The Consolidated Total Lease Adjusted Leverage Ratio was increased to a maximum of 5.50 to 1.00 for the fiscal quarter ending October 1, 2024, stepping down to 4.50 to 1.00 for the fiscal quarter ending March 30, 2027[124] - The Consolidated Fixed Charge Coverage Ratio was amended to be no less than 1.05 to 1.00 for the fiscal quarter ending October 1, 2024, stepping up to 1.25 to 1.00 for the fiscal quarter ending June 30, 2026[125] Off-Balance Sheet Arrangements - The company had no off-balance sheet arrangements or obligations as of October 1, 2024[127]

Exhibit 99.1 Noodles & Company Announces Third Quarter 2024 Financial Results Broomfield, Colo., November 6, 2024 (GLOBE NEWSWIRE) - Noodles & Company (Nasdaq: NDLS) today announced financial results for its third quarter ended October 1, 2024. Key highlights for the third quarter of 2024 versus the third quarter of 2023 include: • Total revenue decreased 4.0% to $122.8 million from $127.9 million in the third quarter of 2023. • Comparable restaurant sales decreased 3.3% system-wide, comprised of a 3.4% dec ...

BROOMFIELD, Colo., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Noodles & Company (Nasdaq: NDLS) today announced financial results for its third quarter ended October 1, 2024. Key highlights for the third quarter of 2024 versus the third quarter of 2023 include: Total revenue decreased 4.0% to $122.8 million from $127.9 million in the third quarter of 2023.Comparable restaurant sales decreased 3.3% system-wide, comprised of a 3.4% decrease at company-owned restaurants and a 2.9% decrease at franchise restaurants.Net l ...

Noodles Invites Guests to Savor the First Bite of its Fresh New FlavorsBROOMFIELD, Colo., Oct. 9, 2024 /PRNewswire/ -- Noodles & Company (NASDAQ: NDLS), the nationwide fast-casual chain known for spreading Uncommon Goodness, is turning a new page in its culinary story with the launch of three new dishes that promise to redefine guests' expectations with new flavors and never-before-used ingredients. Today's unveiling of the Lemon Garlic Shrimp Scampi, Chipotle Chicken Cavatappi, and Crispy Chicken Bacon Alf ...

Noodles & Company knows that fall is full of hectic days and jam-packed schedules, which is why the fast-casual chain is taking dinner off guests' plates with FREE kids' meals, all day, every day, with any regular entrée BROOMFIELD, Colo., Sept. 12, 2024 /PRNewswire/ -- Bringing families together this fall, Noodles & Company (NASDAQ: NDLS), the nationwide fast-casual chain known for spreading Uncommon Goodness, announces today that, for a limited time, guests will receive a free kids' meal with the purchase ...

Table of Contents Securities registered pursuant to Section 12(b) of the Act. Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, $0.01 par value per share NDLS Nasdaq Global Select Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________________________________ FORM 10-Q __________ ...

Noodles & Company (NASDAQ:NDLS) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Drew Madsen - Chief Executive Officer Mike Hynes - Chief Financial Officer Conference Call Participants Jake Bartlett - Truist Securities Todd Brooks - The Benchmark Company Operator Good afternoon and welcome to today's Noodles and Company's Second Quarter 2024 Earnings Conference Call. All participants are now in a listen-only mode. After the presenters' remarks, there will be a question-and-ans ...

Noodles & Co. (NDLS) reported $127.35 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 1.8%. EPS of -$0.05 for the same period compares to -$0.02 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $130.45 million, representing a surprise of -2.37%. The company delivered an EPS surprise of +16.67%, with the consensus EPS estimate being -$0.06.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Exhibit 99.1 Noodles & Company Announces Second Quarter 2024 Financial Results Broomfield, Colo., August 7, 2024 (GLOBE NEWSWIRE) - Noodles & Company (Nasdaq: NDLS) today announced financial results for its second quarter ended July 2, 2024. Key highlights for the second quarter of 2024 versus the second quarter of 2023 include: • Total revenue increased 1.8% to $127.4 million from $125.2 million in the second quarter of 2023. • Comparable restaurant sales increased 2.0% system-wide, comprised of a 1.3% inc ...