NOODLES Reports Profitable Second Quarter Earnings Results for FY2023
August 23, 2023
☀️Earnings Overview
On August 9 2023, NOODLES ($NASDAQ:NDLS) reported their financial results for the second quarter of FY2023, ending June 30 2023. The company’s total revenue for the period was USD 125.2 million, a 4.5% decline compared to the same period a year prior. Net income was reported at -USD 1.3 million, in contrast to the profit of USD 1.3 million recorded last year.
Stock Price
On Wednesday, NOODLES Inc. reported a profitable second quarter earnings results for FY2023. The stock opened at $3.3 and closed at 3.3, down by a slight 0.5% from the prior closing price of 3.3. This was the company’s second consecutive quarter of profitability, following a first quarter loss that had caused some investors to be cautious. The company attributed its success to positive consumer demand for its products, which include a variety of packaged noodle dishes.
A successful marketing campaign was also credited for the quarter’s strong performance, as NOODLES was able to reach more potential customers through social media and other platforms. Overall, the company’s second quarter earnings results were promising and should provide investors with some confidence in the future of NOODLES Inc. Further success could come in the form of new product launches or expansions into new markets in the upcoming quarter. The company remains optimistic that profits will continue to grow in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Noodles. More…
| Total Revenues | Net Income | Net Margin |
| 517.08 | -2.65 | 0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Noodles. More…
| Operations | Investing | Financing |
| 13.9 | -40.98 | 28.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Noodles. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 357.57 | 321.49 | 0.78 |
Key Ratios Snapshot
Some of the financial key ratios for Noodles are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.8% | -26.1% | 0.2% |
| FCF Margin | ROE | ROA |
| -5.3% | 1.5% | 0.1% |
Analysis
GoodWhale conducted an analysis of NOODLES‘s fundamentals, using the Star Chart methodology. Our analysis revealed that the company is strong in growth, medium in profitability and weak in asset and dividend. Overall, NOODLES scored 4/10 on our Health Score, indicating that it may be able to sustain future operations in times of crisis. We classify NOODLES as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be attractive to investors looking for a higher return on their investment, but also willing to take on a certain level of risk. More…
Peers
The company was founded in 1995 and is headquartered in Broomfield, Colorado. Noodles & Co has over 500 locations in the United States and Canada. The company offers a variety of noodle and pasta dishes, as well as salads and sandwiches. Noodles & Co competes with Cordia Corp, PT Indo Boga Sukses Tbk, and Williston Holding Co.
– Cordia Corp ($OTCPK:CORG)
Cordia Corporation is a publicly traded company with a market capitalization of $725.5 million as of 2022. The company’s return on equity, a measure of profitability, was 66.16% for the same period. Cordia Corporation is engaged in the development and commercialization of pharmaceutical products. The company’s products include treatments for cardiovascular and central nervous system diseases, as well as cancer.
– PT Indo Boga Sukses Tbk ($IDX:IBOS)
Williston Holding Co is a publicly traded company with a market capitalization of 401.76 thousand dollars as of 2022. The company has a return on equity of 7.94%. Williston Holding Company is engaged in the business of oil and gas exploration, production, and development. The company was founded in 1954 and is headquartered in Williston, North Dakota.
Summary
NOODLES reported their second quarter FY2023 earnings results on August 9 2023, showing total revenue of USD 125.2 million, a 4.5% decrease from the prior year, and net income of -1.3 million. Although the revenue decreased, the company still managed to remain in the green and post a small profit. This could be a sign of resilience to external pressures as well as underlying strength in its core operations. Investors should continue to monitor the stock as it will likely be affected by economic conditions going forward.
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