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Sep 28, 2021
Noodles & Co Q3 2021 Earnings Report
Announced third quarter 2021 financial results, demonstrating system-wide comparable restaurant sales growth and record company average unit volumes.
Key Takeaways
Noodles & Company reported strong Q3 2021 results, with an 18.1% increase in total revenue to $125.1 million, a 16.3% increase in system-wide comparable restaurant sales, and record company average unit volumes of $1.38 million. Net income was $4.7 million, or $0.10 per diluted share.
Total revenue increased 18.1% to $125.1 million.
System-wide comparable restaurant sales increased 16.3%.
Record Company Average Unit Volumes reached $1.38 million.
Net income was $4.7 million, or $0.10 per diluted share.
Noodles & Co
Noodles & Co
Noodles & Co Revenue by Segment
Revenue by Segment
Restaurant Revenue
CapyFin.comFranchising Royalties and Fees Revenue
CapyFin.com Forward Guidance
Due to equipment availability and landlord delivery timing delays, the company updated its 2021 outlook.
Positive Outlook
- Anticipate at least 8% system-wide unit growth next year.
Challenges Ahead
- Seven to nine new restaurants system-wide in 2021, from prior outlook of 10 to 15 new restaurants.
- The revised outlook incorporates the delay of certain new restaurants into early 2022.
- Capital expenditures of $20 million to $22 million in 2021, from prior outlook of $20 million to $24 million, primarily due to the delay of new restaurant openings into early 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income