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Carrols Restaurant Group, Inc. - $TAST STOCK NEWS

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Rhea-AI Summary
Burger King's parent company, RBI, has reached an agreement to acquire Carrols Restaurant Group Inc. for $1.0 billion, which is a 23.1% premium to Carrols' 30-day volume-weighted average price. The acquisition will allow Burger King to rapidly remodel and refranchise Carrols' 1,022 Burger King restaurants, aiming to accelerate sales growth and drive franchisee profitability. The transaction is expected to be completed in the second quarter of 2024, subject to customary closing conditions.
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End-of-Day
-3.34%
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Rhea-AI Summary
Carrols Restaurant Group, Inc. (TAST) reports positive preliminary sales results for the fourth quarter and full year 2023. Total restaurant sales increased 5.7% to $470.4 million in Q4 2023, with Burger King® and Popeyes® restaurants showing 7.2% and 7.6% comparable sales growth, respectively. Full year 2023 saw a total sales increase of 8.4% to $1.88 billion, with Burger King® and Popeyes® restaurants showing 9.3% and 10.1% comparable sales growth, respectively. Adjusted EBITDA for Q4 2023 is expected to be at the high end of the range, and the company has made significant repayments towards its outstanding borrowings.
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Rhea-AI Sentiment
End-of-Day
-4.63%
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Rhea-AI Summary
Carrols Restaurant Group, Inc. (TAST) reports strong Q3 2023 financial results with a 8.2% comparable restaurant sales growth, a $475.8 million total restaurant sales, and a $41.9 million adjusted EBITDA. The company also declared an initial regular quarterly dividend of $0.02 per share.
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Rhea-AI Sentiment
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22.67%
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Rhea-AI Summary
Carrols Restaurant Group, Inc. to host conference call to discuss Q3 2023 financial results
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-2%
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Rhea-AI Summary
Carrols Restaurant Group reports record quarterly revenue of $485.2M and improved profitability. Comparable restaurant sales for Burger King and Popeyes increased by 10.4% and 11.6% respectively. Adjusted EBITDA totaled $44.3M, compared to $15.1M in the prior year quarter. Net Income was $15.0M, compared to a Net Loss of $26.5M in the prior year quarter. Free Cash Flow was $37.9M, compared to negative Free Cash Flow of $(5.7)M in the prior year quarter.
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12.92%
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-0.18%
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6.88%
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0.29%
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8.02%
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management
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2.46%
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Carrols Restaurant Group, Inc.

NYSE:TAST

TAST Rankings

TAST Stock Data

523.47M
37.65M
24.36%
53.54%
1.95%
Full-Service Restaurants
Accommodation and Food Services
Link
United States of America
SYRACUSE

About TAST

carrols corporation is one of the largest restaurant companies in the u.s. and is headquartered in syracuse, new york. carrols owns and operates more than 800 restaurants under the burger king brand with plans for continue growth. carrols operates in 17 states and employs over 20,000 people. carrols’ success can be attributed to its people; people who are dedicated to providing outstanding service and quality food for their guests. carrols corporation is mission-focused; everyone from the president to the assistant manager has a clear understanding and vision of our business and goals of the company. we take pride in offering our employees a unique ownership-based culture that rewards performance and fosters longevity. we seek the best people and are committed to training our management teams to be leaders in today’s quick-service restaurant industry. this positions them for exceptional career advancement. our experience has taught us that commitment to personal development produces th