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Jun 28, 2022
Noodles & Co Q2 2022 Earnings Report
Announced second quarter 2022 financial results with system-wide comparable restaurant sales growth and record company average unit volumes.
Key Takeaways
Noodles & Company reported a 4.3% increase in total revenue to $131.1 million, driven by a 5.1% increase in system-wide comparable restaurant sales and new restaurant openings. Net income was $1.3 million, or $0.03 per diluted share.
Total revenue increased 4.3% to $131.1 million.
System-wide comparable restaurant sales increased 5.1%.
Company Average Unit Volumes reached a record $1.42 million, a 5.3% increase compared to Q2 2021 and an 18.3% increase versus Q2 2019.
Net income was $1.3 million, or $0.03 per diluted share.
Forward Guidance
The Company is providing the following expectations for the fiscal year 2022:
Positive Outlook
- Third quarter 2022 total revenue of $125.5 million to $128.5 million
- Third quarter 2022 comparable restaurant sales in the low-single digits
- Third quarter 2022 restaurant level contribution margin of 15.0% to 15.5%
- Full year 2022 unit growth of approximately 5%, versus previous expectations of 8%
- Full year 2022 capital expenditures of $30 to $33 million in 2022, versus a previous range of $30 to $34 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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