Carrols Restaurant reports preliminary Q4 restaurant sales of $470.4M

Q4 revenue consensus $465.52M. Reports preliminary Q4 Comparable restaurant sales for the Company’s Burger King(R)restaurants increased 7.2%; and Comparable restaurant sales for the Company’s Popeyes restaurants increased 7.6%. Deborah Derby, President and Chief Executive Officer of Carrols, commented “Our strong Burger King comparable restaurant sales growth of 7.2% in the fourth quarter of 2023 was driven by average check growth of 4.2%, along with a 2.9% increase in traffic. This result was primarily due to the combination of the continued operational improvement efforts by the Carrols’ team and the positive impact of our franchisor’s Reclaim the Flame initiative, as well as a benefit from the timing of the holidays as compared to last year. Our Popeye’s restaurants also continued to perform well as comparable restaurant sales grew 7.6% in the fourth quarter. We expect to see continued momentum at both of our brands in 2024.”