BurgerFi International Clocked Q4 Preliminary Revenue of $42M Vs $40M Est, Restaurant Sales of $65M
Portfolio Pulse from Benzinga Newsdesk
BurgerFi International reported preliminary Q4 revenue of $42M, surpassing the $40M estimate, and restaurant sales of $65M. For fiscal year 2023, total store revenue was about $170M with systemwide restaurant sales around $275M. However, same-store sales decreased by 3% at Anthony's and 9% at BurgerFi in Q4, and by 1% and 7% respectively for the full year. The company reiterated its Adjusted EBITDA guidance of $6-8M and capital expenditures of approximately $2M.
January 08, 2024 | 12:31 pm
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NEUTRAL IMPACT
BurgerFi International exceeded Q4 revenue estimates, indicating potential positive investor sentiment. However, the decline in same-store sales could raise concerns about growth sustainability.
While the revenue beat is positive, the decline in same-store sales is a negative signal that could offset investor enthusiasm. The reaffirmed EBITDA guidance provides some stability, suggesting a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100