EarningsAdjusted EBITDA of $2.1M significantly missed the analyst's estimate of $5.0M, indicating weaker-than-expected earnings performance.
Financial PerformanceThe company reported a 9.0% restaurant-level margin, which is below the analyst's 9.7% estimate and represents a decrease of 210bps compared to the previous year.
GuidanceManagement lowered its 2024 guidance, reducing revenue expectations to approximately $1,250M and adjusting EBITDA to a range of $40-$45M, down from the previous projections of $60-$70M.