NPC International Inc., the world's largest Pizza Hut franchisee, today reported results of its second fiscal quarter ending June 28.
"During the second quarter our comparable store sales strengthened from our first quarter results while continuing to roll over very strong comparable store sales growth from the prior year," said Jim Schwartz, NPC's president and CEO.
Q2 Highlights
- Comparable store sales decreased 2.8 percent rolling over a strong increase of 10.4 percent last year.
- Adjusted EBITDA of $24.5 million was $1.3 million lower than last year.
- Free Cash Flow was $11.4 million or 47 percent of Adjusted EBITDA.
- Cash balances were $51.6 million, an increase of $11.8 million from last quarter and debt remained unchanged.
- Net income of $5.2 million was flat with last year.
Year-to-date highlights
- Comparable store sales decreased 3.8 percent rolling over a strong increase of 10.3 percent last year.
- Adjusted EBITDA of $57.1 million was $1.0 million lower than last year.
- Free Cash Flow was $36.0 million or 63 percent of Adjusted EBITDA.
- Cash balances increased by $7.4 million from last fiscal year end to $51.6 million, and debt has been reduced by $29.7 million.
- Net income of $14.7 million was flat with last year.
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