FRG - Franchise Group reports Q2 earnings miss; narrows FY22 revenue and EPS guidance

• Franchise Group press release ( NASDAQ: FRG ): Q2 Non-GAAP EPS of $1.19 misses by $0.09 .
• Revenue of $1.1B (+27.5% Y/Y) misses by $40M .
• Adjusted EBITDA was $103.4M.
• Franchise Group is updating its previously announced financial outlook for fiscal year 2022 to revenue of approximately $4.3 billion from $4.45 billion vs. consensus of $4.45B, Adjusted EBITDA to approximately $390 million from $450 million and Non-GAAP EPS to approximately $4.00 per share from $5.00 per share vs. consensus of $5.00. In calculating GAAP and Non-GAAP EPS, the Company is currently using an effective tax rate of approximately 27%.

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