As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the modern fast food industry, including Noodles (NASDAQ: NDLS) and its peers.

Modern fast food is a relatively newer category representing a middle ground between traditional fast food and sit-down restaurants. These establishments feature an expanded menu selection priced above traditional fast food options, often incorporating fresher and cleaner ingredients to serve customers prioritizing quality. These eateries are capitalizing on the perception that your drive-through burger and fries joint is detrimental to your health because of inferior ingredients.

The 7 modern fast food stocks we track reported a mixed Q4. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 15.6% since the latest earnings results.

Noodles (NASDAQ: NDLS)

Offering pasta, mac and cheese, pad thai, and more, Noodles & Company (NASDAQ: NDLS) is a casual restaurant chain that serves all manner of noodles from around the world.

Noodles reported revenues of $121.8 million, down 2% year on year. This print fell short of analysts’ expectations by 1.3%. Overall, it was a slower quarter for the company with a miss of analysts’ EBITDA and EPS estimates.

Noodles pulled off the highest full-year guidance raise of the whole group. Still, the market seems discontent with the results. The stock is down 20.9% since reporting and currently trades at $1.15.

Read our full report on Noodles here, it’s free.

Best Q4: CAVA (NYSE: CAVA)

Starting from a single Washington, D.C. location, CAVA (NYSE: CAVA) operates a fast-casual restaurant chain offering customizable Mediterranean-inspired dishes.

CAVA reported revenues of $227.4 million, up 28.3% year on year, outperforming analysts’ expectations by 2.2%. The business had a very strong quarter with a solid beat of analysts’ EPS and same-store sales estimates.

CAVA delivered the biggest analyst estimates beat and fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 20.9% since reporting. It currently trades at $78.60.

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

Weakest Q4: Sweetgreen (NYSE: SG)

Founded in 2007 by three Georgetown University alum, Sweetgreen (NYSE: SG) is a casual quick service chain known for its healthy salads and bowls.

Sweetgreen reported revenues of $160.9 million, up 5.1% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates.

Sweetgreen delivered the weakest full-year guidance update in the group. Interestingly, the stock is up 3.3% since the results and currently trades at $23.96.

Read our full analysis of Sweetgreen’s results here.

Wingstop (NASDAQ: WING)

The passion project of two chicken wing aficionados in Texas, Wingstop (NASDAQ: WING) is a popular fast-food chain known for its flavorful and crispy chicken wings offered in a variety of sauces and seasonings.

Wingstop reported revenues of $161.8 million, up 27.4% year on year. This number lagged analysts' expectations by 1.9%. It was a softer quarter as it also recorded a miss of analysts’ same-store sales and EBITDA estimates.

Wingstop had the weakest performance against analyst estimates among its peers. The stock is down 30.5% since reporting and currently trades at $212.91.

Read our full, actionable report on Wingstop here, it’s free.

Chipotle (NYSE: CMG)

Born from a desire to offer quick meals with fresh, flavorful ingredients, Chipotle (NYSE: CMG) is a fast-food chain known for its healthy, Mexican-inspired cuisine and customizable dishes.

Chipotle reported revenues of $2.85 billion, up 13.1% year on year. This print was in line with analysts’ expectations. Aside from that, it was a slower quarter as it recorded a slight miss of analysts’ EBITDA estimates and same-store sales in line with analysts’ estimates.

The stock is down 15.8% since reporting and currently trades at $49.70.

Read our full, actionable report on Chipotle here, it’s free.

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