BurgerFi Clocks 4% Revenue Dip In Q2 On Lower Same-Store Sales
Portfolio Pulse from Nabaparna Bhattacharya
BurgerFi International Inc reported Q2 revenues of $43.43 million, missing the analyst consensus of $45 million, a 4.1% Y/Y decrease. The company's Q2 EPS loss of $(0.24) also missed the street view of $(0.21). Same-store sales decreased for the BurgerFi brand, while they increased 1% for the Anthony's brand. The company opened three new franchised restaurants in Q2. The company expects to hit the low end of the previously stated guidance of annual revenues of $175 million-180 million.
August 16, 2023 | 3:18 pm
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BurgerFi's Q2 revenues and EPS missed analyst expectations, leading to a decrease in its stock price. The company's same-store sales also decreased, indicating a potential issue with its core business.
BurgerFi's lower than expected Q2 revenues and EPS, along with a decrease in same-store sales, indicate potential issues with its core business. This could negatively impact investor sentiment and lead to a decrease in its stock price.
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