Noodles & Company (NDLS) Q3 2026 earnings summary

Executive summary

• System-wide comparable sales rose 9.5%, marking an eighth consecutive quarter of growth; restaurant contribution margin expanded 350 bps to 16.7%.

• Management credited sales momentum to improved execution, menu innovation, focused marketing and sales shifting to nearby restaurants after closures.

Financial highlights

• Q3 revenue fell 1.0% YoY to $120.9 million from $122.1 million.

• Q3 net loss narrowed to $2.1 million, or $0.36 per diluted share, from $9.2 million, or $1.58 per share.

• Q3 operating income was $145,000 versus an operating loss of $6.3 million; 9M revenue was $371.7 million versus $372.3 million, and net loss was $9.5 million versus $35.8 million.

Outlook and guidance

• FY26 revenue guided to $485–$495 million, including comparable sales growth of 9.0%–10.0%.

• FY26 restaurant-level contribution margin is expected at 16.0%–16.7%; G&A at $52–$54 million, including $2.5–$3.0 million of stock-based compensation; D&A at $23–$24 million; net interest expense at ~$10 million.

• FY26 Adjusted EBITDA guidance is $35–$37 million.

• Plans include one new franchise opening, 34–36 company-owned and 7–8 franchise restaurant closures, and $8.5–$9.5 million in capital expenditures.