Noodles & Co. (NDLS)
NASDAQ:NDLS
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.61Last Year’s EPS
-1.6Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial operational progress and clear top-line acceleration (notably comp sales >9% YTD in 2026), meaningful margin expansion, a large increase in adjusted EBITDA, successful menu and marketing initiatives, and a defined path to being free cash flow positive. Headwinds include a continued net loss (though improved), significant restaurant closures and related non-cash impairments, modest cash on hand vs. a sizable debt load, and higher delivery and other operating costs. Management provided detailed, constructive 2026 guidance and expects continued benefits from portfolio optimization and improved unit economics.Company Guidance
Strong System-wide Comparable Sales Acceleration
System-wide comparable sales grew nearly 7% in fiscal 2025 and have accelerated to over 9% year-to-date in 2026 (with one week remaining in the quarter). Company comp sales in early 2026 are positive over 9%.
Fourth Quarter Comparable Sales and Traffic Gains
Q4 system-wide comp restaurant sales increased 6.6% (company-owned +7.3%, franchise +3.8%). Company comp traffic in Q4 rose 1.4% and average check increased 5.8% (including ~2% effective pricing).
Average Unit Volume and Revenue Growth
Company average unit volumes (AUV) in Q4 increased 9.9% to $1,440,000. Total Q4 revenue increased 0.8% year-over-year to $122.8 million.
Improved Restaurant-Level Margins and Cost Control
Restaurant contribution margin expanded to 14.1% in Q4 (14.1% for 2025), a 290 basis point improvement year-over-year. Cost of goods sold in Q4 was 26.0% of sales, a 120 basis point decrease versus prior year; labor costs were 30.9% of sales, down 140 basis points year-over-year.
Adjusted EBITDA and Net Loss Improvement
Adjusted EBITDA in Q4 was $7.6 million versus $4.0 million in Q4 2024 (an increase of over 88%). Net loss narrowed to $6.8 million (loss per diluted share $1.16) from $9.7 million (loss per diluted share $1.70) year-over-year.
Successful Menu Initiatives and LTO Performance
Launched the company's most comprehensive menu in history and successful LTOs (Chili Garlic Ramen cited as one of the strongest LTOs; Steak Stroganoff outperformed prior LTO launches). Marketing and new menu items helped attract new guests and loyalty engagement.
Operational Improvements and Guest Satisfaction
Introduced Operational Excellence Review (OER) program improving consistency and accountability. OSAT scores improved, reaching 72% in January—closest to the fast casual benchmark since program launch in early 2024.
Portfolio Optimization Driving Permanent Sales Transfer
Closed 33 restaurants in 2025 (and 20 YTD in 2026) as part of portfolio optimization. Closures estimated to have benefited comp sales by ~100–150 basis points in 2025 and are forecast to benefit 2026 comp sales by ~200–300 basis points, with a material baseline lift to nearby go-forward restaurants.
Clear 2026 Financial Guidance and Path to FCF Positive
Full-year 2026 guidance: total revenue $478M–$493M; comp restaurant sales growth 6%–9%; restaurant contribution margin 14.7%–16%; adjusted EBITDA $30M–$35M; capex $9.5M–$10.5M. The company expects to be free cash flow positive and reduce debt by $5M–$10M in 2026.
Marketing Evolution and Value Offering
Shifted to an always-on, performance-optimized marketing approach and launched 'Delicious Duos' value platform (mix ~5%), improving guest perception of value while supporting traffic and frequency without discounting core menu integrity.
NDLS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NDLS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 25, 2026 | $6.06 | $9.43 | +55.61% |
Nov 05, 2025 | $5.28 | $5.98 | +13.33% |
Aug 13, 2025 | $8.16 | $5.78 | -29.22% |
May 07, 2025 | $8.08 | $6.80 | -15.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Noodles & Co. (NDLS) report earnings?
Noodles & Co. (NDLS) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is Noodles & Co. (NDLS) earnings time?
Noodles & Co. (NDLS) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is NDLS EPS forecast?
NDLS EPS forecast for the fiscal quarter 2026 (Q1) is -0.61.