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Dec 31, 2024
Noodles & Co Q4 2024 Earnings Report
Noodles & Co reported a decline in revenue and a larger net loss in Q4 2024 compared to the prior year.
Key Takeaways
Noodles & Company reported a 2.0% decrease in total revenue, reaching $121.8 million. The company saw a net loss of $9.7 million, widening from the prior year's $6.1 million loss. Operating margin declined to -6.0% from -3.7%. Comparable restaurant sales grew modestly by 0.8% system-wide.
Total revenue declined by 2.0% year-over-year to $121.8 million.
Net loss widened to $9.7 million compared to $6.1 million in Q4 2023.
Operating margin deteriorated to -6.0% from -3.7% in the prior year.
Comparable restaurant sales increased by 0.8% system-wide.
Revenue by Segment
Forward Guidance
Noodles & Company expects mid-single-digit comparable restaurant sales growth and aims to improve restaurant-level contribution margins in fiscal year 2025.
Positive Outlook
- Mid-single-digit comparable restaurant sales growth expected in FY 2025.
- Expansion of menu with nine new dishes launching next quarter.
- Increased marketing investment and a new brand strategy planned.
- Improving sales and traffic trends seen in early Q1 2025.
- Capital expenditures expected to be between $11M and $13M.
Challenges Ahead
- Continued restaurant closures expected with 12-15 company-owned and 4 franchised closures.
- Net interest expense projected between $8M and $10M.
- General and administrative expenses to range between $49M and $52M.
- Depreciation and amortization expenses projected at $27M to $29M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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