CARROLS RESTAURANT Reports Financial Results for Second Quarter of FY2023

August 20, 2023

🌥️Earnings Overview

For the second quarter of FY2023, CARROLS RESTAURANT ($NASDAQ:TAST) reported total revenue of USD 485.2 million, a 9.8% increase year-over-year. Net income grew significantly by 156.5%, resulting in USD 15.0 million. The financial results were effective as of June 30, 2023.

Stock Price

On Thursday, CARROLS RESTAURANT released its financial results for the second quarter of FY2023, showing a significant increase in stock prices. CARROLS RESTAURANT opened trading at $6.8 and closed at $7.0, a soar of 12.9% from the previous closing price of 6.2. The financial results demonstrate the success of CARROLS RESTAURANT’s strategies, which focused on improving customer experience, strengthening its pricing model, and expanding its menu offerings. This allowed the restaurant to gain a greater foothold in the market and capture additional customers. CARROLS RESTAURANT has continued to invest in its digital offerings, such as its mobile app, website, and loyalty program.

This has allowed customers to more easily access the restaurant’s services, as well as receive rewards for their patronage. As a result, CARROLS RESTAURANT has seen its revenue and profits rise significantly since the start of the fiscal year. If it is able to maintain its momentum, then CARROLS RESTAURANT is on track to have a successful year ahead. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Carrols Restaurant. More…

    Total Revenues Net Income Net Margin
    1.82k -15.02 -0.5%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Carrols Restaurant. More…

    Operations Investing Financing
    96.33 -28.89 -34.58
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Carrols Restaurant. More…

    Total Assets Total Liabilities Book Value Per Share
    1.6k 1.44k 3.26
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Carrols Restaurant are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    6.1% -20.6% 1.8%
    FCF Margin ROE ROA
    3.4% 12.8% 1.3%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we had the opportunity to analyze CARROLS RESTAURANT’s financials. According to our Star Chart, CARROLS RESTAURANT has scored an intermediate health score of 4/10. This implies that CARROLS RESTAURANT can ride out any crisis without the risk of bankruptcy. CARROLS RESTAURANT is classified as ‘rhino’ which suggests that the company has achieved moderate revenue or earnings growth. In terms of key metrics, CARROLS RESTAURANT is strong in liquidity, medium in growth, profitability and weak in asset and dividend. Given such metrics, investors who are looking for a secure investment may be interested in CARROLS RESTAURANT. However, investors who are looking for higher returns may find the company less attractive. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The company’s competitors include Star Buffet Inc, BBQ Holdings Inc, United & Collective Co Ltd. Carrols Restaurant Group Inc is the largest Burger King franchisee in the United States and operates the largest number of Popeyes restaurants in the world.

    – Star Buffet Inc ($NASDAQ:BBQ)

    As of 2022, BBQ Holdings Inc has a market cap of 185.5M and a ROE of 12.27%. The company operates and franchises several restaurant brands, including Baja Fresh Mexican Grill, Johnny Rockets, and Qdoba Mexican Eats. It also owns and operates several fast-casual restaurant concepts, including Chop’t Creative Salad Company, Freshii, and Smashburger.

    – BBQ Holdings Inc ($TSE:3557)

    United & Collective Co Ltd is a holding company that operates in the healthcare industry. The company has a market capitalization of 3.96 billion as of 2022 and a return on equity of -227.41%. The company’s main businesses include healthcare services, medical devices, and pharmaceuticals. United & Collective Co Ltd is headquartered in Beijing, China.

    Summary

    CARROLS RESTAURANT reported strong second quarter financial results for FY2023 with total revenue of USD 485.2 million, representing a 9.8% increase from the same period last year. Net income rose 156.5% to USD 15.0 million, resulting in stock prices increasing on the same day. This is a positive sign for investors, demonstrating the company’s ability to generate sustainable growth and profitability while continuing to expand its operations. Investors should look to continue to monitor CARROLS RESTAURANT’s financial performance and take note of any announcements or changes that could affect their investments.

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