Del Taco Restaurants, Inc. Reports Unaudited Revenue Results for the Fourth Quarter Ended December 29, 2015; Updates Earnings Guidance for the Fourth Quarter and Full Year Ended December 29, 2015; Provides Earnings Guidance for the Fiscal Year Ending January 3, 2017
Based on updated 2015 guidance, the company announced guidance for Adjusted EBITDA, a non-GAAP financial measure, for fourth quarter 2015 as being at least $21.0 million, representing at least 7% growth from the previous year's fiscal fourth quarter.
The company announced updated guidance for fiscal year 2015, a 52 week period ending December 29, 2015. For the period, the company expects total revenue of approximately $424.0 million, total company restaurant sales of approximately $407.6 million, general & administrative expenses between approximately $32.3 and $32.5 million, including non-cash stock-based compensation of approximately $2.1 million, and adjusted EBITDA of at least $64.8 million (representing the high end of the previously guided range).
The company provided initial guidance for fiscal year 2016, a 53-week period ending January 3, 2017. For the period, the company expects total revenue between $439 million and $449 million; total company-owned restaurant sales between $422 million and $432 million; adjusted EBITDA between $67.5 million and $70.0 million; net capital expenditures totaling approximately $36.0 to $41.0 million including approximately $10.0 to $12.5 million for new unit construction, approximately $10.0 to $11.0 million for capitalized maintenance, approximately $10.0 to $11.5 million for discretionary investment in equipment and technology, and approximately $6.0 million for land acquisition for development after 2016.