Popeyes Profit In Line With Estimates; Lifts FY Guidance

(RTTNews) - Popeyes Louisiana Kitchen Inc (PLKI) on Wednesday reported second-quarter net earnings of $10.3 million or $0.44 per share compared with $8.3 million or $0.35 per share last year.

Revenues for the quarter were up 10.6% at $59.4 million compared with $53.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.44 per share on revenues of $62.9 million for the quarter. Analysts' estimates typically exclude special items.

Comparable sales for the quarter were up 7.5% versus a 3.6% increase last year, the company said.

Company-operated restaurant operating profit was 19.5% of sales compared with 18.8% of sales a year ago.

For the full year 2015, the company now expects adjusted earnings of $1.85 to $1.90 per share, from prior guidance of $1.84 to $1.89 per share. Analysts expect earnings of $1.91 per share.

The company now expects 2015 same-store sales growth of 4.5% to 5.5%, from prior guidance of 3.5% to 4.5%.