Chuy's Holdings (CHUY) Misses Q2 EPS by 1c; Cuts Outlook

Chuy's Holdings (NASDAQ: CHUY) reported Q2 EPS of $0.21, $0.01 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $63.3 million versus the consensus estimate of $64.25 million.

Chuy's Holdings sees FY2014 EPS of $0.76-$0.78, versus prior guidance of $0.81-$0.84 and the consensus of $0.80..

Steve Hislop, President and Chief Executive Officer of Chuy’s Holdings, Inc. stated, “We maintained our top-line momentum in the second quarter with an 18.4% increase in revenues, highlighted by a comparable restaurant sales increase of 2.4%. Our made-from-scratch, Tex Mex-inspired menu, commitment to value and upbeat, irreverent atmosphere continue to clearly resonate with our guests. While we continue to face short-term cost challenges related to commodities and increased labor related to some of our newer openings, we are making progress in back-filling existing markets that are meeting or exceeding our expectations.”

Added Hislop, “With eight new restaurants opened this year, as of today, our 2014 development plan, which now includes eleven new units (versus a range of ten to eleven units, previously), is on track. Our development strategy will include opening 80% of our new units in 2014 through 2015 in markets with existing Chuy’s restaurants. We believe this strategy will continue to drive awareness for the Chuy’s brand and provide a solid geographic footprint for continued growth.”

For earnings history and earnings-related data on Chuy's Holdings (CHUY) click here.

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