Stock Monitor: Dave & Buster's Entertainment Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 11, 2018 / Active-Investors.com has just released a free earnings report on The Habit Restaurants, Inc. (NASDAQ: HABT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HABT. Habit Restaurants reported its fourth quarter fiscal 2017 operating and financial results on February 28, 2018. The hamburger chain reported better than expected earnings results and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Habit Restaurants most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For its fourth quarter and fiscal year ended December 26, 2017, Habit Restaurants recorded total revenue of $85.1 million, up 15% compared to revenue of $73.9 million in Q4 2016. The Company-operated comparable restaurant sales decreased 1.0% for the reported quarter, driven primarily by a 3.0% decrease in transactions partially offset by a 2.0% increase in average transaction amount. Habit Restaurants' reported numbers lagged behind analysts' estimates of $85.2 million.
During Q4 2017, food and paper cost, as a percentage of the Company's revenue, were 30.4%, reflecting a 100-basis point increase compared to the year ago same period, largely driven by significant commodity pressure in produce, beef, and chicken. Labor-related expenses as a percentage of the Company's revenue were 34.6%, which is 120 basis point increase from Q4 2016.
For Q4 2017, the Company's general and administrative expenses, as a percentage of total revenue, decreased to 9.6% from 9.9% of revenue in the prior year's corresponding quarter, due in part to lower incentive compensation expense. Habit Restaurants' preopening costs were $1.1 million for Q4 2017 compared to $813,000 in Q4 2016. The Company expects preopening cost to range between $90,000 and $100,000 for new restaurants for 2018.
Habit Restaurants' net loss was $6.2 million, or $0.30 per diluted share, for Q4 2017 which included $6.1 million of net expense relating to the enactment of the Tax Cuts and Jobs Act of 2017 (TCJA) compared to net income of $1.3 million, or $0.07 per diluted share, in Q4 2016.
For Q4 2017, Habit Restaurants' adjusted fully distributed pro-forma net loss was $44,000, or $0.00 per fully distributed share, compared to adjusted fully distributed pro-forma net income of $1.8 million, or $0.07 per fully distributed share, in Q4 2016. The Company's reported results were better than Wall Street's estimates for a loss of $0.01per share.
During Q4 2017, Habit Restaurants' adjusted EBITDA was $7.3 million compared to $8.4 million for Q4 2016.
For the year ended December 26, 2017, Habit Restaurants recorded total revenue of $331.7 million compared to $283.8 million in FY16.
Habit Restaurants' net loss was $2.8 million, or $0.14 per diluted share, for FY17 which included $6.1 million of net expense relating to the enactment of TCJA compared to net income of $4.7 million, or $0.27 per diluted weighted average share, in FY16.
For FY17, Habit Restaurants' adjusted pro-forma net income was $4.2 million, or $0.16 per fully distributed share, compared to $8.0 million, or $0.31 per fully distributed weighted average share, in FY16.
During Q4 2017, Habit Restaurants opened 13 new company-operated restaurants and one franchised restaurant. As of December 26, 2017, the Company had 193 company-operated locations and 16 franchised/licensed locations (excluding seven licensed locations in Santa Barbara County, California from which the Company is not entitled to royalties) for a system-wide total of 209 locations.
For its fiscal year 2018, Habit Restaurants is forecasting total revenue between $389 million to $393 million and Company-operated comparable restaurant sales of flat to slightly positive for the year. For FY18, Habit Restaurants is projecting the opening of approximately 30 company-operated restaurants and six to eight franchised/licensed restaurants and restaurant contribution margin of 16.0% to 17.0%.
Stock Performance Snapshot
April 10, 2018 - At Tuesday's closing bell, Habit Restaurants' stock advanced 4.02%, ending the trading session at $9.05.
Volume traded for the day: 285.04 thousand shares.
Stock performance in the previous three-month period – up 0.56%
After yesterday's close, Habit Restaurants' market cap was at $238.11 million.
Price to Earnings (P/E) ratio was at 3.01.
The stock is part of the Services sector, categorized under the Restaurants industry. This sector was up 1.4% at the end of the session.
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