Sit-Down Dining Stocks Q1 In Review: Chuy's (NASDAQ:CHUY) Vs Peers

Looking back on sit-down dining stocks' Q1 earnings, we examine this quarter's best and worst performers, including Chuy's (NASDAQ:CHUY) and its peers.

Sit-down restaurants offer a complete dining experience with table service. These establishments span various cuisines and are renowned for their warm hospitality and welcoming ambiance, making them perfect for family gatherings, special occasions, or simply unwinding. Their extensive menus range from appetizers to indulgent desserts and wines and cocktails. This space is extremely fragmented and competition includes everything from publicly-traded companies owning multiple chains to single-location mom-and-pop restaurants.

The 12 sit-down dining stocks we track reported a mixed Q1; on average, revenues missed analyst consensus estimates by 1%. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and while some of the sit-down dining stocks have fared somewhat better than others, they collectively declined, with share prices falling 1.3% on average since the previous earnings results.

Chuy's (NASDAQ:CHUY)

Known for its ‘Big As Yo' Face’ burritos, Chuy’s (NASDAQ:CHUY) is a casual restaurant chain that specializes in Tex-Mex fare, which combines elements of traditional Mexican cuisine with Southern American cooking.

Chuy's reported revenues of $110.5 million, down 1.8% year on year, falling short of analysts' expectations by 1.1%. It was a solid quarter for the company, with a decent beat of analysts' earnings estimates.

Steve Hislop, President and Chief Executive Officer of Chuy’s Holdings, Inc., stated, “In the first quarter, we experienced the same weather and macro challenges facing the broader restaurant industry leading to top-line growth that was below our expectations. That said, we were encouraged by the sequential monthly improvements in our underlying trends as we moved through the quarter, when adjusted for the Easter calendar shift. In addition, we continued to see growth in our off-premise business as consumers embrace the opportunity to enjoy Chuy’s high-quality, made-from-scratch food from the comfort of their own home. Finally, despite top-line headwinds, our team’s continued focus on four-wall operational excellence allowed us to deliver an 18.8% restaurant-level operating margin which remains among the best in our industry.”

The stock is down 12.7% since the results and currently trades at $26.01.

Is now the time to buy Chuy's? Access our full analysis of the earnings results here, it's free.

Best Q1: BJ's (NASDAQ:BJRI)

Founded in 1978 in California, BJ’s Restaurants (NASDAQ:BJRI) is a chain of restaurants whose menu features classic American dishes, often with a twist.

BJ's reported revenues of $337.3 million, down 1.2% year on year, in line with analysts' expectations. It was an exceptional quarter for the company, with an impressive beat of analysts' same store sales, gross margin, and EPS estimates.

The stock is up 4.9% since the results and currently trades at $34.35.

Is now the time to buy BJ's? Access our full analysis of the earnings results here, it's free.

Weakest Q1: Dine Brands (NYSE:DIN)

Operating a franchise model, Dine Brands (NYSE:DIN) is a casual restaurant chain that owns the Applebee’s and IHOP banners.

Dine Brands reported revenues of $206.2 million, down 3.5% year on year, falling short of analysts' expectations by 2%. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.

The stock is down 10.2% since the results and currently trades at $39.2.

Read our full analysis of Dine Brands's results here.

Bloomin' Brands (NASDAQ:BLMN)

Owner of the iconic Australian-themed Outback Steakhouse, Bloomin’ Brands (NASDAQ:BLMN) is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Bloomin' Brands reported revenues of $1.20 billion, down 4% year on year, inline with analysts' expectations. It was a slower quarter for the company, with underwhelming earnings guidance for the next quarter and a miss of analysts' earnings estimates.

The stock is down 15.1% since the results and currently trades at $21.2.

Read our full, actionable report on Bloomin' Brands here, it's free.

Brinker International (NYSE:EAT)

Founded by Norman Brinker in Dallas, Texas, Brinker International (NYSE:EAT) is a casual restaurant chain that operates under the Chili’s, Maggiano’s Little Italy, and It’s Just Wings banners.

Brinker International reported revenues of $1.12 billion, up 3.4% year on year, falling short of analysts' expectations by 0.1%. It was a very strong quarter for the company, with an impressive beat of analysts' gross margin estimates and optimistic earnings guidance for the full year.

The stock is up 36.7% since the results and currently trades at $67.88.

Read our full, actionable report on Brinker International here, it's free.

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