Popeyes reports 12.8% increase in Q2 EPS, increases guidance

Popeyes Lousiana Kitchen Inc. said Wednesday that net income for the second-quarter of fiscal 2015 was $10.3 million, or 44 cents per share, compared with $8.3 million, or 39 cents, for the same period last year. The FactSet consensus estimate was 44 cents. Revenue was $59.4 million, a 10.6% increase from $53.7 million for the comparable period in 2014. FactSet consensus sales estimate was $62.7 million. The increase was due to a $2.8 million increase in sales at company-operated restaurants and a $3.5 million increase in franchise royalties. At the end of the second quarter, Popeyes operated and franchised 2,443 restaurants versus 2,262 restaurants at the end of the same quarter last year, an 8% increase. The company raised its guidance for earnings per diluted share for full-fiscal 2015 to $1.85 to $1.90 from $1.84 to $1.89. And it reiterated its guidance for full-fiscal 2015 new restaurant openings of between 200 and 225, including between 85 and 95 overseas.

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