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Must-know: Fiesta’s optimistic outlook
According to the National Restaurant Association, restaurant and foodservice sales will be $683.4 billion in 2014, up 3.6% year-over-year.
In August, the Restaurant Performance Index stood at 101.9, an increase of 1% from July, which was its first gain in three months.
Fiesta’s partnership with food distributor PFG will allow the growing brands to share a national distribution system and freight consolidation.
Based on the year-to-date results, Fiesta Restaurant Group Inc. expects to be at the high end of the 3% to 5% range for comparable sales growth at Pollo Tropical.
In early 2014, Fiesta began cable TV advertising in Tampa for the first time, which led to an 11% increase in average weekly sales.
Fiesta opened new restaurants on high profile real estate, aiming to generate assets under management of $2.2 million in two years.
Fiesta Restaurant Group is allocating its capital to the highest return investments, new Pollo Tropical company-owned restaurants and Taco Cabana remodels.
At the end of the second quarter, Fiesta Restaurant Group’s net income increased 87.4% to $9.3 million, compared to net income of $5 million in 2Q13.
Taco Cabana restaurant sales increased 3.3% to $78.3 million compared to the corresponding period last year due to a 2.8% increase in comparable restaurant sales.
For the 19th consecutive quarter, Pollo Tropical has delivered positive comparable restaurant sales growth.
For 2Q14, Fiesta’s total revenues recorded an increase of 9.4% to $154.2 million from $140.9 million in the corresponding quarter last year.
As of June 2014, Fiesta Restaurant Group owned 112 Pollo Tropical restaurants and 166 Taco Cabana restaurants.
Fiesta Restaurant Group Inc. (FRGI) owns, operates, and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana.
Two analysts rated the stock as neutral or hold, and six assigned a buy or overweight rating to the stock. The company’s consensus rating is buy. And its consensus mean price target is ~$71.
Cash is required to expand operations, make acquisitions, pay dividends, and reduce debt. A company’s cash position indicates its financial strength and liquidity.
The Las Vegas Sands board of directors authorized an additional $2.0 billion stock repurchase program—worth ~4% of its market capitalization—with a commitment to purchase at least $75 million of stock each month.
Adjusted property EBITDA shouldn’t be regarded as an alternative to looking at income from operations, which indicates operating performance. Nor is it an alternative to looking at cash flow from operations, which measures liquidity.
Las Vegas Sands paid a recurring quarterly dividend of $401.2 million, or $0.50 per common share during Q3 2014, up 42.9% year-over-year.
Las Vegas Sands’ main growth drivers include more efficient and affordable transportation infrastructure, a greater number of hotel rooms in Macao, and a rapidly expanding middle-class with growing disposable income.
Las Vegas Sands Corp.’s (LVS) retail malls segment continued to reflect strong revenue growth in Q3 2014. Operating profit derived from these retail mall assets increased 19.6% year-over-year, to $131.9 million.