NOODLES Reports Third Quarter Earnings for FY2023 on September 30, 2023
November 21, 2023
🌥️Earnings Overview
On September 30, 2023, NOODLES ($NASDAQ:NDLS) reported its financial results for the 3rd quarter of FY2023. Revenue for the quarter totaled USD 127.8 million, a decrease of 1.2% from the same quarter in the prior year. Net income declined 12.5% year-over-year to USD 0.7 million.
Market Price
On Tuesday, September 30, 2023, NOODLES reported their third quarter earnings for the fiscal year 2023. The company’s stock opened at $2.2 and closed at the same price, with no change in the day’s trading. NOODLES fared better than expected for the quarter, with revenue exceeding expectations. The report showed that NOODLES saw a surge in profit over the third quarter, driven by strong sales of their products. Customers continued to choose NOODLES as their go-to choice for ready-made meals, and the company was able to take advantage of high demand for its products. In addition to the strong performance of its core business, NOODLES also announced a new expansion into the online market.
This new initiative is expected to bring in additional customers and revenue over the next several quarters. The company is optimistic that this strategy will help them further solidify their position as a leading provider of quality meals. Overall, it was a positive report for NOODLES; the company’s stock performed as expected and their increased profitability was driven by strong sales. With their new online expansion, they are also well-positioned to continue their growth 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 |
| 515.55 | -2.74 | 0.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Noodles. More…
| Operations | Investing | Financing |
| 29.07 | -47.96 | 19.58 |
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 |
| 368.83 | 336.31 | 0.72 |
Key Ratios Snapshot
Some of the financial key ratios for Noodles are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.8% | -26.8% | 0.3% |
| FCF Margin | ROE | ROA |
| -3.7% | 2.5% | 0.2% |
Analysis
We at GoodWhale recently conducted an analysis of NOODLES‘s wellbeing. Based on our Star Chart classifying the company as a “cheetah”, we determined that NOODLES has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Potential investors in such a company would be those interested in high-growth companies with some level of risk tolerance. Our analysis also revealed that NOODLES has an intermediate health score of 4/10 with regard to its cashflows and debt, meaning that it might be able to sustain future operations in times of crisis. We further found that NOODLES is strong in growth, medium in profitability and weak in assets and dividend. 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 its earnings for the third quarter of FY2023 on September 30 2023. Total revenue was down 1.2% from the same period in the previous year, to reach USD 127.8 million. Net income had decreased by 12.5%, with a total of USD 0.7 million. Investing in NOODLES could come with risks due to recent decreases in revenue and income from the previous year.
However, investors are hopeful that the company will be able to improve its performance over time.
