Noodles & Company (NASDAQ:NDLS) reported its latest quarterly earnings results late on Wednesday, sending shares soaring as the company posted a revenue beat, but its earnings were below analysts’ expectations.
The fast-casual restaurant reported a net loss of $5.9 million for its second quarter of fiscal 2018, amounting to roughly 14 cents per share in losses. In the year-ago quarter, the company brought in a net loss of $1.8 million.
Noodles & Company brought in a profit when adjusting for one-time gains and costs, bringing in earnings of a penny per share. The figure was below the Wall Street consensus estimate of 3 cents per share, according to data compiled by Zacks Investment Research.
On the revenue front, the company impressed as it raked in sales of $117.4 million, besting analysts’ expectations. Zacks’ guidance, based on a survey of three analysts, was calling for revenue of $114.8 million for Noodles & Company’s second quarter.
For its fiscal year 2018, the company projects that its earnings will be in the range of breaking even and 3 cents per share on an adjusted basis, in line with the Wall Street consensus estimate of 2 cents per share in adjusted earnings. For the year, the restaurant forecasts that its revenue will be in the range of $450 million to $455 million, also ahead of analysts’ outlook of $451 million.
NDLS stock gained more than 8% after the bell Wednesday following a 2.1% loss during regular trading hours.