Del Frisco’s Restaurant Earnings: Here’s Why the Stock is Down Now
Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) 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 0.06%.
Del Frisco’s Restaurant Group, Inc. Earnings Cheat Sheet
Revenue: Rose 11.4% to $59.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Del Frisco’s Restaurant Group, Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.20. It beat the average revenue estimate of $58.54 million.
Quoting Management: “Despite initial comparable restaurant sales softness at the beginning of the first quarter due to macro-economic factors, adverse weather affecting some of our highest grossing restaurants, and a formidable year-ago comparison, overall trends improved considerably during the March fiscal period. In fact, all three brands generated positive traffic during the last four weeks of the first quarter and that momentum continued into our April fiscal period as well,” said Mark S. Mednansky, Chief Executive Officer of Del Frisco’s Restaurant Group, Inc.
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