Fiesta Restaurant Group: 2Q Earnings Snapshot
ADDISON, Texas (AP) _ Fiesta Restaurant Group Inc. (FRGI) on Monday reported second-quarter net income of $9.5 million, after reporting a loss in the same period a year earlier.
The Addison, Texas-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring gains, came to 25 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The owner of Pollo Tropical and Taco Cabana restaurants posted revenue of $176.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $172.7 million.
Fiesta Restaurant Group shares have increased 53 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.05, a climb of 72 percent in the last 12 months.