Carrols Restaurant Group Clocked Q4 Restaurant Sales Growth of 5.7% YoY to $470.4M, Comparable Sales for Burger King Grew 7.2% YoY, Comparable Sales for Popeyes Increased 7.6% YoY
Portfolio Pulse from Benzinga Newsdesk
Carrols Restaurant Group, Inc. (NASDAQ:TAST) reported Q4 restaurant sales growth of 5.7% YoY, reaching $470.4M. Burger King and Popeyes, part of Carrols' portfolio, saw comparable sales growth of 7.2% and 7.6% YoY, respectively. Full-year sales rose 8.4% to $1.88B, with Burger King and Popeyes comparable sales up 9.3% and 10.1%. The company expects Q4 adjusted EBITDA to be at or slightly above the high end of the $28M-$32M range, with full-year adjusted EBITDA also at the high end or above the $145M-$149M range.
January 08, 2024 | 12:13 pm
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POSITIVE IMPACT
Carrols Restaurant Group reported strong Q4 and full-year sales growth, with Burger King and Popeyes showing robust comparable sales increases. Q4 adjusted EBITDA is expected to exceed the high end of the forecast range.
The positive sales growth and the expectation to exceed EBITDA forecasts suggest a strong financial performance for Carrols, which is likely to be well-received by investors. The growth in comparable sales for both Burger King and Popeyes indicates successful operational strategies and could lead to increased investor confidence in the company's management and future prospects. This news is directly related to Carrols and is critical for investors, hence the high relevance and importance scores. The confidence score is high due to the clear and positive nature of the financial results.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100