NDLS - Noodles & Company slides 26% after Delta variant led shutdowns hit revenue: Q4 Miss

Noodles & Company (NASDAQ:NDLS) is down 26% in post-market trading after the company disappointed investors with consensus miss on both lines in 4Q21 earnings results. Revenue of $114.8M (+7.1% Y/Y) misses consensus by $5.87M. Comparable restaurant sales increased 11.2% system-wide, including an increase of 9.5% for company-owned restaurants and an increase of 20.8% for franchise restaurants. Digital sales up 1%, accounting for 57.3% of sales. Restaurant contribution margin decreased 120bps to 12.4%. The decline is linked to inefficiencies as a result of temporary COVID-related closures, rising wage inflation and commodity inflation pressures, in addition to one-time expenses. Operating margin was (3.8)% compared to an operating margin of (3.1)%. Adjusted EBITDA decreased 7.3% Y/Y to $4.9M. Non-GAAP EPS of -$0.05 misses by $0.13. The company ended the quarter with $2.3M in cash and cash equivalents. "While underlying business fundamentals remained strong, fourth quarter results were impacted by staffing challenges, as well as the surge of the

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Noodles & Company slides 26% after Delta variant led shutdowns hit revenue: Q4 Miss