Boston, MA 06/12/2014 (wallstreetpr) – Multi-brand restaurant operator Luby’s, Inc. (NYSE:LUB) is scheduled to announce its financial results for the third quarter after the market closes on June 12. The company will hold a conference call on June 13 at 9.00 in the morning Central time. Will the company’s earnings come in above the Street expectations?
What To Expect
Given the performance of the company during the second quarter, there is an expectation that Luby’s should be in a position to earn three cents a share for the third quarter. However, in the four preceding quarters, it could not deliver earnings either in line with or above the Street estimations. The company has rather failed to meet expectations in all the previous four quarters. This puts investors on the back burner.
FY14 Outlook
While releasing second quarter financial results, the company has reiterated its fiscal 2014 guidance. As a result, Luby’s expect restaurant sales between $375 and $385 million for the same period. It included same store sales uptick of a maximum of 1% and $8 million contributions from new store openings.
Will Luby’s, Inc. (NYSE:LUB) cautioned then that its sales would be unfavorably affected due to a 60 – 90 day latency period when Luby’s shut down and refashions its stores. It also sees cash flow to be unfavorably impacted since it will be spending costs to shut down some Cheeseburger stress besides re-opening it as Fuddruckers.
2Q Results
During the previous quarter, Will Luby’s, Inc. (NYSE:LUB)’s suffered a net loss of $2.18 million or a loss of 8 cents a share compared to net income of $180K or earnings of 1 cent a share in the year-ago quarter.
Total sales advanced to $89.6 million from $87.02 million in the preceding year second quarter. While restaurant sales grew to $83.91 million from $81.7 million, culinary contract services yielded revenue of $3.98 million, up from $3.67 million in the year earlier quarter. Its operating costs increased to $93.1 million from $85.9 million in the same quarter last year.
