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 ...

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 ...

For the quarter ended December 2023, Noodles & Co. (NDLS) reported revenue of $124.32 million, down 8.9% over the same period last year. EPS came in at -$0.07, compared to $0.03 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $124.95 million, representing a surprise of -0.50%. The company delivered an EPS surprise of -600.00%, with the consensus EPS estimate being -$0.01.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Noodles & Company (NDLS) is scheduled to release fourth-quarter 2023 results on Mar 7. In the last reported quarter, the company reported earnings per share (EPS) of 4 cents, beating the Zacks Consensus Estimate of breakeven earnings.How Are Estimates Placed?The Zacks Consensus Estimate for fourth-quarter loss per share is pegged at 1 cent. In the prior-year quarter, NDLS reported EPS of 3 cents.For revenues, the consensus mark is pegged at $125 million. The metric suggests a decline of 8.4% from the year-a ...

Financial Performance - Total revenue for Q4 2023 decreased 8.9% to $124.3 million from $136.5 million, with an adjusted decrease of 2.4% when accounting for the 53rd week in Q4 2022[1] - Comparable restaurant sales decreased 4.2% system-wide in Q4 2023, with a 4.3% decrease for company-owned restaurants and a 3.6% decrease for franchise restaurants[1] - Net loss for Q4 2023 was $6.1 million, or $0.14 loss per diluted share, compared to net income of $1.0 million, or $0.02 per diluted share in Q4 2022[1] - For fiscal year 2023, total revenue decreased 1.2% to $503.4 million from $509.5 million, with an adjusted increase of 0.6% when accounting for the 53rd week in 2022[1] - Net loss for fiscal year 2023 was $9.9 million, or $0.21 loss per diluted share, compared to a net loss of $3.3 million, or $0.07 loss per diluted share in fiscal year 2022[1] - Total revenue for the fiscal quarter ended January 2, 2024, was $124.32 million, a decrease of 8.9% from $136.47 million for the same period last year[17] - Net loss for the fiscal quarter ended January 2, 2024, was $6.14 million, compared to a net income of $0.98 million for the same period last year[21] - Adjusted EBITDA for the fiscal quarter ended January 2, 2024, was $7.47 million, down from $9.10 million for the same period last year[21] - The fiscal year ended January 2, 2024, reported a net loss of $9,856 thousand, worsening from a net loss of $3,314 thousand in the previous fiscal year[23] Future Projections - The company plans to open 10-12 company-owned restaurants and up to 3 franchise-owned restaurants in fiscal year 2024[3] - Expected total revenue for fiscal year 2024 is projected to be between $510 million and $525 million, with flat to +3% comparable restaurant sales growth[3] - Restaurant level contribution margins are expected to be between 14% and 15% for fiscal year 2024[3] Operational Metrics - Company-owned average unit volumes decreased to $1,314, down 1.6% from $1,335 in the previous quarter[19] - Franchise average unit volumes decreased to $1,232, down 1.0% from $1,244 in the previous quarter[19] - Company-owned comparable restaurant sales decreased by 4.3% compared to the same quarter last year[19] - Restaurant contribution for the fiscal quarter was $17,947 thousand, down from $20,229 thousand in the same quarter last year, resulting in a contribution margin of 14.7% compared to 15.2%[26] - The company plans to continue focusing on restaurant-level productivity and efficiency as key metrics for evaluating performance[26] Financial Position - The company had available cash and cash equivalents of $3.0 million and outstanding debt of $82.2 million as of January 2, 2024[2] - Total current assets increased to $22.62 million from $21.64 million year-over-year[18] - Total long-term debt increased significantly to $80.22 million from $46.05 million year-over-year[18] - Total liabilities increased to $340.94 million from $305.48 million year-over-year[18] Restructuring and Costs - The company incurred severance and executive transition costs of $1,368 thousand in the fiscal quarter[23] - The company reported severance and executive transition costs of $191 million in Q3 2023, indicating ongoing restructuring efforts[29] Shareholder Metrics - Basic and diluted loss per share for the fiscal quarter was $(0.14), compared to earnings per share of $0.02 in the prior year quarter[23] - Weighted average common shares outstanding for the fiscal quarter were 44,955,913, down from 46,027,708 in the same quarter last year[23] - The weighted average diluted shares outstanding for Q3 2023 was 46,008,651, consistent with 46,363,208 in Q2 2023[29] - Adjusted earnings per share (basic) for Q3 2023 was $0.04, recovering from a loss of $0.02 in Q2 2023[29]

Wall Street analysts expect Noodles & Co. (NDLS) to post quarterly loss of $0.01 per share in its upcoming report, which indicates a year-over-year decline of 133.3%. Revenues are expected to be $124.95 million, down 8.4% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is es ...