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AFC Enterprises Inc. (NASDAQ:AFCE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.88%.
AFC Enterprises Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.67% to $0.34 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 30.85% to $47.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AFC Enterprises Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $45.3 million.
Quoting Management: AFC Enterprises Chief Executive Officer Cheryl Bachelder stated “It is rewarding to see our team’s disciplined and creative work deliver outstanding results to our franchise owners and our shareholders. We believe our five pillar strategic plan will continue to deliver sustained growth well into the future. Furthermore, we have now demonstrated the capability to seize opportunities to accelerate our growth as we did with the fourth quarter acquisition of restaurants in Minnesota and California and the opening of new Company-owned restaurants in Indianapolis and Charlotte. Both of these actions provide strong value to our shareholders.”
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