Noodles & Company (NASDAQ:NDLS) Releases Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Noodles & Company (NASDAQ:NDLS) posted its quarterly earnings data on Wednesday. The restaurant operator reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.29, FiscalAI reports. The firm had revenue of $122.78 million for the quarter, compared to analysts’ expectations of $122.40 million.

Here are the key takeaways from Noodles & Company’s conference call:

• System-wide comparable sales accelerated to +6.6% in Q4 2025 and are topping +9% year-to-date in Q1 2026, with traffic up ~4% and seven consecutive periods of traffic growth.
• Restaurant contribution margin expanded to 14.1% (up 290 bps YoY) and Q4 adjusted EBITDA rose to $7.6M, with full-year 2026 adjusted EBITDA guidance of $30–35M and an expectation to be free-cash-flow positive and reduce debt.
• The company closed 33 restaurants in 2025 (20 YTD in 2026) and plans to close 30–35 in 2026; while closures drove a $5.6M non-cash impairment, management estimates permanent sales transfer benefits of ~100–300 bps to nearby shops and attributes roughly half of next year’s EBITDA improvement to these closures.
• Year-end liquidity is thin with only $1.3M of available cash, $110.2M of debt and ~$11M revolver availability, and the company still reported a Q4 net loss of $6.8M, underscoring near-term leverage and liquidity risk.
• Management highlighted operational and marketing improvements—menu upgrades and successful LTOs (Chili‑Garlic Shrimp Ramen, Steak Stroganoff), the Delicious Duos value platform, AI-driven marketing, and an Operational Excellence Review that lifted OSAT to ~72%—supporting sustained guest traffic and spend.

Noodles & Company Price Performance

Shares of NDLS stock traded up $3.67 on Thursday, hitting $9.73. 1,467,283 shares of the stock traded hands, compared to its average volume of 73,533. Noodles & Company has a 52 week low of $3.57 and a 52 week high of $10.00. The firm has a 50 day simple moving average of $5.61 and a two-hundred day simple moving average of $5.63. The firm has a market cap of $56.91 million, a price-to-earnings ratio of -1.21 and a beta of 1.50.

Institutional Investors Weigh In On Noodles & Company

A number of institutional investors and hedge funds have recently bought and sold shares of NDLS. Geode Capital Management LLC boosted its stake in Noodles & Company by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 389,421 shares of the restaurant operator’s stock worth $275,000 after purchasing an additional 27,384 shares during the period. State Street Corp lifted its holdings in shares of Noodles & Company by 31.1% in the fourth quarter. State Street Corp now owns 181,963 shares of the restaurant operator’s stock worth $128,000 after buying an additional 43,211 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Noodles & Company by 331.0% during the first quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock worth $121,000 after acquiring an additional 84,987 shares during the last quarter. XTX Topco Ltd grew its stake in Noodles & Company by 228.5% during the fourth quarter. XTX Topco Ltd now owns 94,746 shares of the restaurant operator’s stock valued at $67,000 after acquiring an additional 65,907 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Noodles & Company by 35.7% during the 4th quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock worth $66,000 after acquiring an additional 24,600 shares in the last quarter. 65.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NDLS shares. Wall Street Zen upgraded shares of Noodles & Company to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Noodles & Company in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Noodles & Company Company Profile

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.