Carrols Restaurant Group

Carrols Restaurant Group, Inc. engages in the operation of restaurants under the Burger King and Popeyes brands. It serves flame-broiled whopper sandwich, hamburgers, chicken and other specialty sandwiches, fries, salads, breakfast items, smoothies, frappes, and other snacks. The company was founded in 1960 and is headquartered in Syracuse, NY.

Earnings data Q3 2020

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Carrols Restaurant Group posts strong Q4 results and eyes growth

Carrols Restaurant Group delivered a robust performance in Q4 2022, marked by strong financial results, operational enhancements, and strategic initiatives driving growth and profitability.
While facing challenges such as inflation moderation and pricing consistency, the company's focus on efficiency, brand building, and prudent decision-making positions it well for future success and sustainable value creation.
With a clear emphasis on organic growth, operational excellence, and franchisee support, Carrols is poised to capitalize on opportunities for expansion, innovation, and market leadership in the dynamic restaurant landscape.

Carrols Restaurant Group excels in Q1, eyes growth opportunities

Carrols Restaurant Group's Q1 performance reflects strong sales growth, improved profitability, and effective cost management strategies.
While challenges persist in the competitive landscape and operational efficiency, the company is well-positioned to capitalize on growth opportunities.
Optimism about business momentum, strategic initiatives, and financial discipline underpin Carrols Restaurant Group's outlook for the future.

Carrols Restaurant Group achieves record Q2 performance and focuses on sustainable growth

Carrols Restaurant Group's Q2 2023 performance reflects robust financial results, operational improvements, and strategic initiatives aimed at driving growth. Despite anticipated margin moderation, the company's focus on balance sheet strength, organic growth, and customer-centric strategies bodes well for its long-term prospects.

Carrols Restaurant Group reports strong Q3 performance and strategic growth plans

Carrols Restaurant Group's Q3 2023 performance showcased robust sales growth, margin expansion, and improved profitability. The company's strategic focus on operational efficiencies, digital initiatives, and restaurant modernization positions it well for future growth. While facing challenges in a competitive market, Carrols Restaurant Group's strong financial position and dividend declaration underscore its resilience and commitment to shareholder value.

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SYRACUSE, N.Y., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (“Carrols” or the “Company”) (Nasdaq: TAST), the largest BURGER KING® franchisee in the United States, today reported its financial results for the fourth quarter and full year ended January 2, 2022.

Carrols Restaurant Group, Inc. Reports Financial Results for the Fourth Quarter and Full Year 2021

Carrols Restaurant Group Inc. TAST, -1.26% has named Paulo Pena as chief executive, effective April 1. Carrols is one of the largest restaurant franchisors in North America, and the largest Burger King franchisee in the U.S. with 1,028 restaurants.

Carrols names McDonald's vet as CEO

Brings over 20 years of Operations Experience to the Role Brings over 20 years of Operations Experience to the Role

Carrols Restaurant Group, Inc. Appoints Paulo Pena as Chief Executive Officer

SYRACUSE, N.Y., Feb. 03, 2022 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (“Carrols” or the “Company”) (Nasdaq: TAST), the largest BURGER KING® franchisee in the United States, today announced that Daniel T. Accordino, Chairman and Chief Executive Officer, and Anthony E. Hull, Chief Financial Officer, will host a conference call to discuss the Company's fourth quarter and full year 2021 financial results on Thursday, February 24, 2022 at 8:00 a.m. (ET). A press release reporting the Company's financial results will be issued at 7:00 a.m. (ET) that same day.

Carrols Restaurant Group, Inc. to Announce Fourth Quarter and Full Year 2021 Financial Results on February 24, 2022

We believe Burger King's recent rebranding campaign will drive additional traffic to restaurants that the market isn't pricing in. A recent study done in May concluded that fast-food chains are experiencing a 33% rise in the number of visits during the first four months of 2021.

Carrols Restaurant Group: An Attractive Investment Opportunity

The restaurant business is tough as beef prices rose 15.5% and labor costs jumped 13.3% in Q3.

Bear of the Day: Carrols (TAST)

Carrols Restaurant Group Inc (NASDAQ: TAST) reported third-quarter FY21 restaurant sales growth of 3.6% year-on-year, to $421.70 million, beating the analyst consensus of $417.99 million. Comparable restaurant sales for Burger King restaurants increased 2.7%, and Popeyes restaurants decreased 3.2%.

Carrols Restaurant Reports Mixed Q3 Results As Inflation Weighs

Carrols Restaurant Group, Inc. (TAST) CEO Dan Accordino on Q3 2021 Results - Earnings Call Transcript

SYRACUSE, N.Y., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (“Carrols” or the “Company”) (Nasdaq: TAST), the largest BURGER KING® franchisee in the United States, today reported its financial results for the third quarter ended October 3, 2021.

Carrols Restaurant Group, Inc. Reports Financial Results for the Third Quarter 2021

Carrols Restaurant (TAST) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Carrols Restaurant Group (TAST) to Report a Decline in Earnings: What to Look Out for

SYRACUSE, N.Y., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. ("Carrols" or the “Company”) (Nasdaq: TAST), the largest BURGER KING® franchisee in the United States, today announced that Daniel T. Accordino, Chairman and Chief Executive Officer, and Anthony E. Hull, Chief Financial Officer, will host a conference call to discuss the Company's third quarter 2021 financial results on Wednesday, November 10, 2021 at 8:00 a.m. (ET). A press release reporting the Company's financial results will be issued at 7:00 a.m. (ET) that same day.

Carrols Restaurant Group, Inc. to Announce Third Quarter 2021 Financial Results on November 10, 2021

Raymond James analyst Brian Vaccaro downgraded Carrols Restaurant Group Inc (NASDAQ:TAST) to Market Perform from Outperform without a price target. Vaccaro has reduced near-term visibility following weaker U.S. Burger King comps reported by parent Restaurant Brands International Inc (NYSE:QSR) on October 25 that will likely compound already present margin pressures related to elevated wage inflation and higher COGS.

Raymond James Downgrades This Restaurant Company - Read Why

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Board of Directors Commences Search for a New CEO Board of Directors Commences Search for a New CEO

Carrols Restaurant Group, Inc. Announces Retirement of Chairman and CEO by June 30, 2022

Carrols Restaurant Group, Inc.'s (TAST) CEO Dan Accordino on Q2 2021 Results - Earnings Call Transcript

Carrols Restaurant (TAST) delivered earnings and revenue surprises of -100.00% and -0.79%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Carrols Restaurant Group (TAST) Reports Break-Even Earnings for Q2

Carrols Restaurant Group Inc (NASDAQ: TAST) reported second-quarter FY21 restaurant revenue growth of 15% year-on-year, to $424.54 million, missing the analyst consensus of $426.80 million. Comparable restaurant sales for Burger King restaurants increased 12.6% Y/Y, and Popeyes restaurants decreased 5.3%.

Carrols Restaurant Stock Slides After Q2 Earnings Miss On Inflationary Challenges

Board of Directors Declares Special Cash Dividend of $0.41 per share, returning $25 Million of Capital to Stockholders Board of Directors Declares Special Cash Dividend of $0.41 per share, returning $25 Million of Capital to Stockholders

Carrols Restaurant Group, Inc. Reports Financial Results for the Second Quarter 2021

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SYRACUSE, N.Y., July 29, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. ("Carrols" or the “Company”) (Nasdaq: TAST), the largest BURGER KING® franchisee in the United States, today announced that Daniel T. Accordino, Chairman and Chief Executive Officer, and Anthony E. Hull, Chief Financial Officer, will host a conference call to discuss the Company's second quarter 2021 financial results on Thursday, August 12, 2021 at 8:30 a.m. (ET). A press release with these financial results will be issued at 7:00 a.m. (ET) that same day.

Carrols Restaurant Group, Inc. to Announce Second Quarter 2021 Financial Results on August 12, 2021

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Carrols Restaurant Group Inc (NASDAQ: TAST) has acquired 19 Burger King restaurants in Indiana and Michigan. Carrols did not disclose the terms of the deal.

Carrols Restaurant Acquires 19 Burger King restaurants For Undisclosed Sum

SYRACUSE, N.Y., July 08, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (“Carrols” or the “Company”) (Nasdaq: TAST) today announced that it recently acquired 19 BURGER KING® restaurants in Indiana and Michigan.

Carrols Restaurant Group, Inc. Acquires 19 BURGER KING® Restaurants in Indiana and Michigan

SYRACUSE, N.Y., June 23, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (NASDAQ: TAST) (“Carrols Restaurant Group”) announced today that it has priced a private offering of $300 million of 5.875% Senior Notes due 2029 (the "Notes"). The Notes will be issued at par. The offering is expected to close on June 28, 2021, subject to customary closing conditions.

Carrols Restaurant Group, Inc. Prices Offering of $300 Million of Senior Notes Due 2029

SYRACUSE, N.Y., June 23, 2021 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. (NASDAQ: TAST) (“Carrols Restaurant Group”) announced today that it plans to offer, in a private placement, senior notes due 2029 in the aggregate principal amount of $300 million (the “Notes”). Carrols Restaurant Group is the largest U.S. Burger King® franchisee based on the number of restaurants and has owned and operated Burger King restaurants since 1976. As of April 4, 2021, the Company owned and operated 1,010 Burger King restaurants and 65 Popeyes® restaurants. Carrols Restaurant Group intends to use the net proceeds of the private placement of the Notes and $46 million of revolving credit borrowings under its senior credit facility (i) to repay $74.0 million of outstanding term loan B-1 borrowings and $244.0 million of outstanding term loan B borrowings under its senior credit facility, (ii) to pay fees and expenses related to the offering of the Notes and the amendment to its senior credit facility, and (iii) for working capital and general corporate purposes, including for possible future repurchases of its common stock and/or a dividend payment and/or payments on its common stock.

News for Carrols Restaurant Group Stock (TAST)