Noodles & Company Boosts 2026 Outlook as Sales Quickened and Board Starts Strategic Review

Overview

• The company reported that comparable sales are running above 9% so far in 2026 and set full‑year guidance for 6% to 9% growth.
• Management forecast adjusted EBITDA of $30 million to $35 million for 2026 and targeted positive free cash flow with $5 million to $10 million less debt by year‑end.
• Leaders plan to close 30 to 35 more restaurants in 2026 and expect nearby locations to absorb much of that demand, a sales transfer that could add 200 to 300 basis points to comps.
• For 2025, system‑wide comparable sales rose nearly 7% and restaurant‑level margins expanded 290 basis points to 14.1% through better labor productivity, tighter food costs, and sales leverage.
• The Board launched a formal review of strategic alternatives that could include refinancing or other transactions, and the company already booked a $5.6 million non‑cash impairment tied to underperforming closures in Q4 2025.