Brief: Carrols Restaurant Group Reports Q1 Adjusted Loss Per Share $0.38

Carrols Restaurant

07/05/2020 12:47

May 7 (Reuters) - Carrols Restaurant Group Inc  TAST.O :
    * CARROLS RESTAURANT GROUP, INC. REPORTS FINANCIAL RESULTS
FOR THE
FIRST QUARTER 2020 AND PROVIDES BUSINESS UPDATE
    * Q1 LOSS PER SHARE $0.44
    * Q1 EARNINGS PER SHARE ESTIMATE $-0.35 -- REFINITIV IBES
DATA
    * Q1 ADJUSTED LOSS PER SHARE $0.38
    * Q1 REVENUE $351.5 MILLION VERSUS REFINITIV IBES ESTIMATE
OF $361
MILLION
    * QTRLY COMPARABLE RESTAURANT SALES FOR COMPANY'S BURGER
KING
RESTAURANTS DECREASED 5.7%
    * QTRLY COMPARABLE RESTAURANT SALES FOR COMPANY'S POPEYES
RESTAURANTS INCREASED 3.2%
    * REDUCING REGIONAL AND CORPORATE OVERHEAD BY $5 MILLION TO
$7
MILLION ON AN ANNUALIZED BASIS
    * FULL YEAR ESTIMATED RANGE OF CAPITAL EXPENDITURE SPENDING
IS $35
MILLION TO $40 MILLION, NET OF SALE LEASE-BACK PROCEEDS
    * SUSPENDING ANY ACQUISITION ACTIVITY AND OUR STOCK
REPURCHASE
PROGRAM
    * CARROLS RESTAURANT GROUP - INCREASING REVOLVER BORROWING
CAPACITY BY $30.8 MILLION TO A TOTAL OF $145.8 MILLION ON APRIL
8, 2020
    * WITHDRAWN OUR FULL YEAR 2020 GUIDANCE AS IT CAN NO LONGER
BE
RELIED UPON

Source text for Eikon:  ID:nBw6yxg6Va 
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