Del Taco Inc results beats Wall Street expectations, but revenue dips

Del Taco Restaurants Inc. (NASDAQ:TACO) on Tuesday reported third-quarter earnings of US$5.9 million.

The restaurant-operator reported US$0.15 earnings per share for the quarter. 

The California-based company said its profit of 15 cents, on a per-share basis, beat Wall Street expectations. 

Analysts predicted earnings of 14 cents per share.

That said, revenue did not beat expectations, with the restaurant chain posting revenue of $117.8 million in the period, which fell short of Street forecasts. 

Del Taco expects full-year earnings in the range of 53 cents to 56 cents per share, with revenue in the range of US$504 million to US$507 million.

Since the beginning of the year, Del Taco shares have dropped close to 10%

On Tuesday, shares hit US$10.94, a drop of 28% in the last year. 

Story by ProactiveInvestors