Noodles & Co. (NDLS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Noodles & Co. reported $121.4 million in revenue for Q1 2024, a year-over-year decline of 3.7% [1] - The company had an EPS of -$0.13, compared to -$0.05 a year ago, indicating a worsening financial performance [1] - Revenue fell short of the Zacks Consensus Estimate of $122.17 million, resulting in a surprise of -0.63% [1] - The company delivered an EPS surprise of +35.00%, with the consensus EPS estimate being -$0.20 [1] Financial Performance Metrics - Company-owned comparable restaurant sales decreased by 5.7%, compared to the average estimate of -5% [2] - Total restaurants system-wide at the end of the period were 469, below the estimated 471 [2] - System-wide comparable restaurant sales were down 5.4%, compared to the estimated -4.8% [2] - Franchise comparable restaurant sales declined by 4.5%, against the average estimate of -4% [2] - Revenue from franchising royalties and fees was $2.39 million, exceeding the estimate of $2.23 million, but representing a 16.1% decline year-over-year [2] - Restaurant revenue was $119 million, slightly below the estimated $119.94 million, reflecting a 3.4% decrease from the previous year [2] Stock Performance - Shares of Noodles & Co. have returned +14.8% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.2% [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance in the near term [3]