SYRACUSE, N.Y. — Carrols Restaurant Group, Inc. (NASDAQ: TAST) generated revenue of more than $193 million during its first quarter that ended March 29.
That was up more than 27 percent from $151 million in the same quarter last year.
The first-quarter figure includes $32.5 million in sales from 123 Burger King restaurants that Carrols acquired in 2014.
(Sponsored)
“They are family. They would never do that!” Our guard comes down as it is hard to imagine a family member capable of business fraud. Unfortunately, that is when the
The Importance of Relationship Banking for Small Business Success
Small business owners wear many hats. Each day can bring on new challenges requiring valuable time and focus – especially in the competitive economic environment we live in today. The
Syracuse–based Carrols, the world’s largest Burger King franchisee, announced the preliminary results in a news release issued Wednesday.
Comparable restaurant sales increased 8.4 percent compared to a 2.5 percent decline in the prior-year period, the company said.
Carrols expects restaurant-level EBITDA of between $18.5 million and $19 million, up from $13 million in the prior-year period. EBITDA is short for earnings before interest, taxes, depreciation, and amortization.
The firm also anticipates adjusted EBITDA of $7.5 million to $8 million, up from $3 million in the first quarter of 2014.
Carrols closed 15 Burger King restaurants during the first quarter, it said.
Carrols Restaurant Group operated 663 restaurants as of March 31. It has operated Burger King restaurants since 1976.
Carrols tentatively plans to release its first quarter financial results and update its 2015 guidance on May 5 before the stock market opens, the company said.
Contact Reinhardt at ereinhardt@cnybj.com