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Factors to Note Ahead of Carrols Restaurant (TAST) Q2 Earnings
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Carrols Restaurant Group, Inc. (TAST - Free Report) is scheduled to report second-quarter 2023 results on Aug 9, 2023. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 100%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for earnings is pegged at breakeven. In the prior-year quarter, TAST reported a loss per share of 18 cents. The consensus mark for revenues is pegged at $479.9 million, suggesting growth of 8.6% year over year.
Let's check out the factors likely to have influenced the quarter under discusssion.
Factors at Play
Quarterly results are likely to benefit from comparable restaurant sales for TAST’s Burger King and Popeyes restaurants. The top line is likely to have been aided by an increase in average check and menu price. The Zacks Consensus Estimate for restaurant sales is pegged at $480 million, up 8.6% year over year.
On the other hand, moderating inflation and Carrols Restaurant’s continued focus on operational efficiencies are likely to have aided the bottom line. Margins in the quarter are expected to have been driven by a decline in wage inflation and renting expenses. During second-quarter 2023, management noted that it excepts wage inflation in the mid single digits in 2023 compared with the high single digit inflation in 2022.
Carrols Restaurant Group, Inc. Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Carrols Restaurant this time around. TAST does not have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: TAST has an Earnings ESP 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Carrols Restaurant has a Zacks Rank #4 (Sell).
Stocks Poised to Beat on Earnings
Here are some stocks worth considering from the Zacks Retail-Wholesale sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Farfetch Limited has an Earnings ESP of +2.36% and a Zacks Rank of 3.
FTCH’s earnings for the to-be-reported quarter are expected to plunge 53.7%. It reported better-than-expected earnings in three of the last four quarters and missed on one occasion, the average surprise being 19%.
ARHS’ earnings for the to-be-reported quarter are expected to decline 10.3%. It reported better-than-expected earnings in three of the last four quarters and missed once, the average beat being 15.6%.
Jack in the Box Inc. (JACK - Free Report) has an Earnings ESP of +5.94% and carries a Zacks Rank of 2.
JACK is expected to register a 25.5% rise in earnings for the to-be-reported quarter. Notably, it reported better-than-expected earnings in two of the last four quarters and missed twice, the average surprise being 7.1%.
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Factors to Note Ahead of Carrols Restaurant (TAST) Q2 Earnings
Carrols Restaurant Group, Inc. (TAST - Free Report) is scheduled to report second-quarter 2023 results on Aug 9, 2023. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 100%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for earnings is pegged at breakeven. In the prior-year quarter, TAST reported a loss per share of 18 cents. The consensus mark for revenues is pegged at $479.9 million, suggesting growth of 8.6% year over year.
Let's check out the factors likely to have influenced the quarter under discusssion.
Factors at Play
Quarterly results are likely to benefit from comparable restaurant sales for TAST’s Burger King and Popeyes restaurants. The top line is likely to have been aided by an increase in average check and menu price. The Zacks Consensus Estimate for restaurant sales is pegged at $480 million, up 8.6% year over year.
On the other hand, moderating inflation and Carrols Restaurant’s continued focus on operational efficiencies are likely to have aided the bottom line. Margins in the quarter are expected to have been driven by a decline in wage inflation and renting expenses. During second-quarter 2023, management noted that it excepts wage inflation in the mid single digits in 2023 compared with the high single digit inflation in 2022.
Carrols Restaurant Group, Inc. Price and EPS Surprise
Carrols Restaurant Group, Inc. price-eps-surprise | Carrols Restaurant Group, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Carrols Restaurant this time around. TAST does not have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: TAST has an Earnings ESP 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Carrols Restaurant has a Zacks Rank #4 (Sell).
Stocks Poised to Beat on Earnings
Here are some stocks worth considering from the Zacks Retail-Wholesale sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Farfetch Limited has an Earnings ESP of +2.36% and a Zacks Rank of 3.
FTCH’s earnings for the to-be-reported quarter are expected to plunge 53.7%. It reported better-than-expected earnings in three of the last four quarters and missed on one occasion, the average surprise being 19%.
Arhaus, Inc. (ARHS - Free Report) has an Earnings ESP of +1.17% and holds a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
ARHS’ earnings for the to-be-reported quarter are expected to decline 10.3%. It reported better-than-expected earnings in three of the last four quarters and missed once, the average beat being 15.6%.
Jack in the Box Inc. (JACK - Free Report) has an Earnings ESP of +5.94% and carries a Zacks Rank of 2.
JACK is expected to register a 25.5% rise in earnings for the to-be-reported quarter. Notably, it reported better-than-expected earnings in two of the last four quarters and missed twice, the average surprise being 7.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.