Chuy’s reports Q4 EPS 45c, consensus 38c

Reports Q4 revenue $116.3M, consensus $116.63M.Comparable restaurant sales increased 0.3% as compared to the fourth quarter of 2022 -13 weeks vs. 13 weeks.Steve Hislop, President and Chief Executive Officer of Chuy‘s Holdings, Inc. stated, “I am proud of what our team accomplished in 2023 with continued revenue growth of 9.3% and comparable restaurant sales of approximately 3.3%. Our effective four-wall execution resulted in a 200 basis-point expansion of restaurant-level margins to over 20% representing our best result in over a decade, excluding the covid-impacted 2021, and among the best in the industry. As we look ahead, we will continue to do what we do best – provide our customers with fresh, made-from-scratch food and drinks at an incredible value. Finally, we were thrilled to return approximately $28.9 million to shareholders during the year through share repurchases enabled by the ongoing strength of our operating model.” Hislop added, “We successfully opened one new restaurant during the fourth quarter and are pleased with the performance of our recent openings. As we look into 2024, we are encouraged by our robust pipeline of 6 to 8 new restaurants, focusing primarily on core markets where our concept is already proven with high AUVs and brand awareness. We have a long runway ahead of us and are excited by the opportunity to grow the Chuy’s brand and maximizing shareholder value in 2024 and beyond.”