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Carrols Restaurant: 2Q Earnings Snapshot

August 6, 2020 GMT

SYRACUSE, N.Y. (AP) _ Carrols Restaurant Group Inc. (TAST) on Thursday reported second-quarter net income of $7.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Syracuse, New York-based company said it had net income of 13 cents. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The restaurant operator posted revenue of $368.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $361.7 million.

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Carrols Restaurant shares have climbed 2.5% since the beginning of the year. The stock has decreased 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAST at https://www.zacks.com/ap/TAST