$NDLS reports strong Q4 and FY2022 earnings growth
Mar 8th 2023, 9:09 pm
Analyst Summary: Noodles & Company, a Colorado-based restaurant chain, reported strong financial results for Q4 and FY2022. Total revenues increased by 18% YoY to $136.1 million, attributable to a 10% increase in comparable sales for company-owned restaurants. Operating margin reached 1% compared to -3%, while restaurant contribution margin increased by 280 basis points to 15%. Five new company-owned restaurants opened in Q4, while sixteen new company-owned restaurants and three franchised restaurants opened in FY2022. While inflationary pressures were felt throughout expense items, higher menu pricing helped to offset the impact. The CEO stated that Noodles & Company’s “menu, digital and loyalty perspective” along with “a more favorable COGS environment” and “robust pipeline supporting increased unit growth” places it well to continue the trend of substantial earnings growth in FY2023.