4th Quarter 2018
On top of positive same-restaurant sales, the company actually experienced positive transaction growth. Positive traffic is hard to come by in the restaurant industry today, so this is a great sign for investors.
- Revenue increased 10.4% to $1.2 billion
- Comparable restaurant sales increased 6.1%. This included 2.0% of transactions growth
- Digital sales grew 65.6% and accounted for 12.9% of sales
- Restaurant level operating margin was 17.0%, an increase from 14.9%
- Diluted earnings per share was $1.15, a 25.8% decrease from $1.55.
- Adjusted diluted earnings per share was $1.72, excluding the impact of restaurant closure costs, corporate restructuring, and certain other costs
- Opened 40 new restaurants and closed or relocated 12
2019 Guidance Update
For 2019, management is anticipating the following:
- Mid-single digit range comparable restaurant sales growth
- 140 to 155 new restaurant openings
- An estimated effective full year tax rate between 27.0% and 30.0%