Noodles Q4 earnings send stock soaring

BROOMFIELD — On a brutal day for stock markets around the world, Noodles & Co. (Nasdaq: NDLS), which beat earnings estimates in the fourth quarter of fiscal year 2019, was a bright spot.

The Broomfield-based firm’s stock price soared more than 3.5 percent Thursday after Noodles posted quarterly revenues of $113.9 million, up 0.6 percent from the same period last year. Full-year results were also positive with sales totals of $462.4 million, up from $457.8 million in 2018.

In Q4, Noodles posted earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.06 per share.

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“We are pleased with our 2019 results as they reflect our continued momentum in sales, margin and bottom line growth,” Noodles CEO Dave Boennighausen said in a statement that accompanied the firm’s earnings report. “Our seventh consecutive quarter of positive comparable sales during the fourth quarter, combined with meaningful margin expansion, is further evidence of the sustainability and effectiveness of our strategy. Our strong growth in digital and off-premise sales was a direct result of our initiatives and the brand’s strength in meeting the increasing need for convenience from today’s consumer.”

In 2020, Noodles plans to open 10 to 15 new restaurants and record sales of $470 million to $480 million.

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