Fast food franchisee Carrols Restaurant Group (NASDAQ:TAST) is expected to be reporting results next Friday morning. Here’s what you need to know.
Carrols beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $475.8 million, up 7.2% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Carrols a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Carrols’s revenue to grow 5.7% year on year to $465.6 million, slowing from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carrols has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.7% on average.
With Carrols being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for restaurants stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.9% on average over the last month.
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