Popeyes Results Top Estimates, Lifts FY Earnings Guidance; Stock Up 2.4%

(RTTNews) - Popeyes Louisiana Kitchen Inc (PLKI) on Wednesday reported first-quarter net earnings of $13.6 million or $0.58 per share compared with $11.1 million or $0.46 per share last year.

Excluding items, adjusted earnings for the quarter were $0.58 per share compared with $0.46 per share a year ago.

Revenues for the quarter were $79.5 million compared with $70.1 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.54 per share on revenues of $81.4 million for the quarter. Analysts' estimates typically exclude special items. Same store sales for the quarter was up 7%.

For the full year 2015, the company raised its guidance for adjusted earnings per share by one cent to $1.84 to $1.89. Analysts expect earnings of $1.90 per share.

The company expects 2015 same-store sales growth to be at the top of its original range of 3.5% to 4.5%.