NDLS - Noodles & Company Non-GAAP EPS of -$0.05 beats by $0.03 revenue of $126.1M misses by $0.31M

2023-05-10 16:24:05 ET

• Noodles & Company press release ( NASDAQ: NDLS ): Q1 Non-GAAP EPS of -$0.05 beats by $0.03 .
• Revenue of $126.1M (+12.0% Y/Y) misses by $0.31M .
• Adjusted EBITDA was $7.0 million, an increase of $4.8 million compared to the first quarter of 2022.

• As of April 4, 2023, the Company had $2.1 million of cash on hand and outstanding debt of $52.8 million. The amount available for future borrowings under its revolving credit facility was $69.3 million as of April 4, 2023.

• The Company is reiterating guidance related to its 2023 performance. The following is expected for the full year 2023:

• Restaurant level contribution margins of 16.0% to 17.0%;

• Adjusted EBITDA of $45 million to $50 million;

• Depreciation and amortization of $25.5 million to $27.5 million;

• Disposal of assets of $3.0 million to $3.5 million;

• Net interest expense of $4.0 million to $4.5 million;

• Stock-based compensation of $6.0 million to $7.0 million;

• Adjusted EPS of $0.10 to $0.20;

• Approximately 7.5% new restaurant growth system-wide, with a majority of openings being company-owned; and

• Capital expenditures of $53 million to $58 million in 2023.

For further details see: