CHUY - Earnings call transcript Q1 2020

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Operator

Good day everyone and welcome to the Chuy's Holdings First Quarter 2020 Earnings Conference Call. Today's call is being recorded. At this time, all participants have been placed in a listen-only mode and the lines will be opened for your questions following the presentation. On today's call, we have Steve Hislop, President and Chief Executive Officer; and Jon Howie, Vice President and Chief Financial Officer of Chuy's Holdings Incorporated.

At this time, I'll turn the conference over to Mr. Howie. sir. ahead, go Please

Jon Howie

at and our By release. first also our it operator, Investors have If everyone access can website on found to quarter be in good you, the now, section. afternoon. should not, www.chuys.com Thank XXXX earnings

could begin These formal remarks, to that reliance our our performance not for subject forward-looking and results everyone statements to I We what will materially today and, risks of statements the for our refer are impact and These conditions. to detailed should financial that expect. SEC them. future undue recent numerous could of our are on part uncertainties discussions review not therefore, cause we future include we more need to actual remind results of Before a that differ operating forward-looking put you all filings you statements. of discussion from guaranteeing also risks

the way, With to that the of Steve. out to I'd call over turn like

Steve Hislop

Good the call Thank you, on joining afternoon for you Jon. today. us thank and everyone

surrounding results, in taken those briefly solid will targeted we build as we the marketing, upon results, with today focus actions in main we business impact our we continue had the including start on investments be first and to key on the our the quarter a that to have sales. off-premise initiatives, XXXX While our will of taken success and quarterly be COVID-XX technology, of touch response. will Beginning our and

first first in for the evident trajectory comparable our restaurant quarter. XX was of the sales weeks positive increase the in The sales X.X%

Since the three a of has can company as the our of we long as steps along experiencing pandemic. by the emerge then, However, country as a slowdown March, we company have material crisis several during you stronger and that to impacted COVID-XX taken the in the weeks ensure rest weather the with short-term last been we're run. imagine, would

tirelessly XX As mandates, know our transition model. to to restaurants both comply and members' to you off-premise of with state of local efficient many work our team an

offered During of the address menu, long-term delivered procedures. takeout family safely in we convenient meal a stay-at-home as focused beverage order, and featuring our curbside to well a to guests favorites, have kits, a as enhance number pickup

We also partner services national services delivery as as in local delivery have some markets. provided through delivery our other DoorDash well

a after I'm And pre-COVID of say sales to from off-premise work this, paid our in XX% tripled more sales as to prior model pleased that dining our transition hard locations. our levels. of team's we to the just operating right range certain has our negative than XX% the improved from an comparable reopening rooms off have off-primes world to only

earlier one Day onset of crisis. us many Additionally, and celebrate Cinco in opted guests of our of Mother's weekly de the best results May, sales with result the in Mayo to since the

them. commitment and I team when is of our unprecedented accomplished time. to believe members the at even proud scratch have during consumed Their from appeal home. what extremely this a made testament I'm our offerings, this nothing lasting of this that amazing, adapt of pandemic face of trying ease to been to many and skillfully of ability crisis the has in our has do on the had COVID-XX impact to we're help part short

to hardship. several Relief provide providing that assistance fund employees To Fish financial facing years that through Red to been put end, we ago have our place was support in

paying our for furloughed. currently of the also including of health employees, are We those cost currently insurance full all

process for our have say to states that we're of to guests begun we business announcing dining in restaurants. reopening it eager an welcome is our the our recently back of With guidelines a understatement Lastly, number new rooms. operations,

capacity. dining currently the varying of restaurants Chuy's degrees approximately XX are with of rooms reopened We

an in can you safety goal As imagine, reopen wellbeing and both restaurant our also guests. employees to and our prioritize the and efficient each of manner is

reopening have to Early addition our on, employees restaurants sanitizing we've see regularly with had for our positive very welcome it's and you are and wearing. proper following back to can guests. energy glove our we I we established response regard procedures renewed social our great been mask the to distancing, and our as guests. tell our from a In restaurants, local guidelines employees in to

be offerings believe position fortunate solid discuss as closing, challenges to In these remain a We equipped financial in weather and a will this to Jon current we current we're will in are of facing crisis freshly-repaired, moment. ensure comfort to in homes. our committed dining our their environment Mexican of a or enjoying inspired either of many the own rooms, favorable our loyal that safe continue guests can in

over I will steps call taken discuss the to now financial that, the be CFO, to Howie, near and turn we will our have Jon in taken future. With

Jon Howie

the steps thus managing well Thanks, on long our been to focused our that Steve. have The primarily financial for business is we've taken term. far ensure funded liquidity

cash, $XX May in included credit facility had which announced of XXth, million previously we As drawdown. approximately the

addition, our the during additional to financial flexibility and that covenants maturity date. new just facility revolving In credit financial its XX, pandemic to COVID-XX maturity we XXXX, provide through April amended relaxing extend by

off-premise to give some color we to $XXX,XXX announced our the by during our approximately savings week business April, $XXX,XXX recent cash reduced as To of driven weekly initiatives and you XXth, burn additional May liquidity, a as our on cost in in we increase mainly rate compared weeks.

current the planned the assumes remainder cancellation levels capital normalized as new as rate XXXX. openings during delay for restaurant sales of well burn Our non-essential or spending, including expenditures rent

and to concessions, rent we That being negotiate our deferrals. with our we rent to landlords and said, temporarily continuing abatement offering suspended have work on payments are leases,

CARES properties, operating in of $X a correction in of Act for million as reinstatement an of tax qualified administrative We expecting conjunction period. result approximately depreciation period also as carryback with the refunds recovery the as loss are the net well the improvement

uncertain markets file $XXX our and Lastly, capital if this us on statement the financial time. we allow enhance to shelf further access the May Xth, position, to up registration for during necessary million to

ongoing XXXX. around duration reminder, have for magnitude our uncertainty COVID-XX the previously we of the fiscal guidance withdrawn and issued pandemic, As given a the year

crisis, the to welcoming have restaurant to needed and furloughed flexibility weather as forward this In believe employees we operation. financial normal to look summary, we returning back our we slowly are we

Steve Hislop

Thanks, Jon.

say are during to while and safety the We foremost our guests and this caused as on turbulent hard well to been all food as revise with you. of able into industry has keeping being and pandemic all how dedication crave Chuy's to the minds, expect. adapt family brands, able shown challenges wellbeing you this our time of our off-premise of I our each pleased serving in only, they've while our business lives. has Thank has our to about evolve come by and enough employees company can't Chuy's an our entire business our the work to the still and

With that, we you. are happy to any questions. answer Thank

Operator

you. Thank

Instructions]. conducting We question-and-answer session [Operator a now will be

of The the line Setyan Please with question from is Wedbush. come first proceed question. Nick your of

Nick Setyan

Thank of that you. close A units X quick of will out, accelerating units week-to-week. clarification, those It's great to sales see now any the the trends open?

Steve Hislop

No, they're not.

Nick Setyan

Yes. ahead. Go

Steve Hislop

continue feasibility to at last for that get the going go reopening those once been of we'll doing get months in at and to look have We're ones the two looking the restaurants. up, we those to all

Nick Setyan

sort your shoulder relative at these are capacity? dinner, night Got be would rooms of maybe weekdays' Friday experience how about talk your dining doing periods it. crowd very capacity Friday's lunch opening the anything helpful? And the could And to you constraints? as are you night, seeing versus Are

Steve Hislop

early whole on going the lot say of it'sXX%; it's in very that And bunch of basically Yes. the I'm a a you seven restaurants, Again, restaurants such maybe -- XX markets. it's to guys so thing the by Tennessee, seven get would it's laws of about It's early to a the like lot different a But into time, restaurants really but One color how comment example, open time. to local give be X our those, of XX%. in it's in of days excited that. these -- haven't markets, early. it ten too fast this in and in to short and mobilized even we too Austin, these because about

Nick Setyan

Okay, for is us what versus And dine-in to that $XX,XXX weekly terms Jon the X/XX, weekend the in being just fair you then for would of portion tell possible sales be off-premise? enough. the of it

Jon Howie

Well, that you is if there, through because just all have that's we look think off-premise off-premise. mainly think what [audio I gap] I

Steve Hislop

We've a in bit. got that couple little a no, No,

Jon Howie

We've that of got the couple in a is off-premise. most XX% for but would that, part say I

Steve Hislop

Yes. I agree.

Operator

Our Chris the next line with Please of comes question. your Stifel. question of proceed O'Cull from

Chris O'Cull

expect people. had from Jon, period dining now the during you were are room question. of the rooms the flow-through large taking What dining dining hourly its for of I should know a that furlough sales? and rate we but rehiring closed, portion rooms Company Thanks kind a the reopening when reopened are workforce Thanks.

Jon Howie

a a too until we lot you can dining lot the of early the Well, lights moving know, right. of of we as it think a of I Because Chris. there's into lot in cut off Again, some operation, turned we it's pieces services, kind to-go it all only we turned we trends. because when get things, rooms, did

XX% house, trying really we it's in of those turn slowly capacity amount bring labor or capacity for now, front of the on XX% So then dial-in and services. as the to the right

some is point, question, better hard what you can understand we an really this idea yet, your at to give that So but it's I get of trends. really until

Steve Hislop

we'll Chris, in that we’re down back road. as bring And XX, coming some would XX, the of as be furloughed, just moving back you move the in

house, will construction. we fellows specifically kept in the in of construction now. some on right Texas, working some say, training lot the of because forward impact back a our in We kitchen move they have are A as labor,

have little employee some bit. a some as hiring, forward we will we So, on move startup

Chris O'Cull

the Jon, did margin they takeout guys then, compare? How compared Okay. can And sales? describe sales dining you to for

Jon Howie

said going cash delivery we've the almost were to as part, for what most comparable margin door, because the like well, the so out far is, margin, As as the would on those the a of we've going as prices they're as now, neutral. that be it we neutral back we far kind done increased

the And done so for that the we've most on part, delivery.

that, what is higher kits given finding kits a margarita also it's our average On our little then we're as some the of and check pickup, well.

we And taken the opened quite back bar as as nicely. that far which bar it's up digits that have about. mix for up, the high very the pleased in XX%, seeing we is mix, single been we've So, stores coming actually are not all then but

points but would say go, not than little So that are the margins I basis a more a to less, hundred less. probably

Operator

question. The Andrew BMO of your next Markets. Capital question the proceed with is from Please line Strelzik with

Andrew Strelzik

My where stuff the of you've you’ve what the waits? like in managing talk a you are right is can stores And room, reopened taken? first the bit you some experience dining customer question, little now, about the how

Steve Hislop

Managing I waits? would stopped Actually, have there.

everybody have up wait it that in distancing the or themselves the it waiting and we now, be to managing Believe social straight usually the pretty else. self allow wait, and much cars. First well vestibules right then because of not, up obviously, all, as our back are they're consumers checking actually going then, their wouldn't cars, to and and anything

as we for and that. again, sure far thing, mask operations the all making well us gloves, had XX% sure that making with safetiness very, one they expected kept. to our number standards are as everything, going, very have done making have them, Obviously, have solutions the the areas but But we sure are we've sanitizing our and always we've in opening we're is of the sanitizing we're

a it to menu very, to-go and on time, our of we're at use services. we that Part things do down running very to well, very are very menu the slimmed delivery to is up a continue similar we which all during especially that current this us is do ramp the allowing as

So in that's restaurants what's our now.

as to execution and We're able in So just working about been is we're call four we're we're was very, on waits going. throughout to-go very the increase last walls, volumes very, pleased the execute they've and make our and as that our really times and eight execution executions using with technology the the very to how the operations well good. sure pretty excited weeks. the just But with I'm the I pleased on the as

Andrew Strelzik

any And newer system? How helpful. that's with great, there's overtime of markets sales the the if newer into across differences or you've has Can in kind regional talk of your legacy Okay, the home either varied states kind then, as grown markets? highlighting base. versus you about,

Jon Howie

really just no honestly, open I the -- when mean, but stronger have mean, the obviously Texas -- I AUBs, like we're significant

Steve Hislop

was Nashville ones it hasn't but very similar. is Times, been all and after this very strong, categories also The to and it in similar before then thing. Texas,

in traditionally like acted we it's they past. the than that to So, expected just I them think haven't

Andrew Strelzik

could And anything maybe in And business thinking off-premise of do mix stores support what then a you my last operationally one, you're how there to think off-promise the or be? doing sticky over the is higher will time? be

Steve Hislop

think were go to while Sure. we probably go talked if I call looking to XX% our even back about I you all we we big with were at were areas year the enhance on were our we mean, off-premise, throughout off-premise rest real to stores year, XX% ago, the also a this estate go And catering that last and a anyway. initiative year of in in looking we a at those. and

definitely of it they're north we think I all enhanced with as we expect expect And I to this be where to be I pandemic. in what's away. which don't happened think going range. XX-XX XX% go don't were, to well forward I to that definitely it with but move be it's going

thought to it's stuff and stage But we're to parking and set continue really learned on to how a just level of to we're stay. our in continue operations So, Obviously, also. going And go with how ton within lot the it process. going store only we've to that it. to the here up

going just industry more always It's is uptick we go, was and more they to also casual. casual stuff plus. important to become of quick right in do the big major Convenience is road. do handhelds a how move in but a and checks the how it big be also. across convenience is as down now, be delivery, be the we the As going whether a and we to guests, Convenience going that do working we how all do have to

Operator

Please of your Our questions. next with question Tarantino Baird. David comes from the line of proceed

David Tarantino

I Hi, a doing afternoon. are questions. couple hope of good you well. both I had

the little you're doing one relates a can kind dining plan to reopen. traffic to try I what's drive what to plan bit your drive reopen? and as about the first marketing you of guess traffic things as The room awareness to talk or

Steve Hislop

Sure.

the inside things. whether been two As the store to go. the rest out for areas organic they And those big XX%? as this do next us how third months a continue allowed do to you're strong basic that whether quarter our here is thing what it's things doing great types and you doing be media coming be probably into through have, grassroots of a and rooms, last Tequila always how dining about our a obviously, been very in see to from just we've go the And special up that's us emphasis. one XX% that's thing find local company and going And we're of going are also Cinco to we marketing the or days, talking month to we it get Day we're smart social doing our

were the back back But in that us as as I results XXXX. into us see do go all we'll get you'll you'll having you'll our see great us we definitely believe, digital for executed social, back that XXXX And more in a we us see probably similar, plan was and we and marketing go trends on things focused like get and if that that.

of and the what and the that see will some bit they'll stand talk of messages of us maybe obviously it. our You the about we social a definitely and convenience the change Gulf us digital talking our see side, to and postings you'll area do, on tiny convenience some

us and talk employees of about two the as our of through we lot to to you're months. so our that menu, how plans going and You'll is communities that's executed And important we things over care definitely see the then guests. our to to you how take very But, you'll a we move similar XXXX. all which hear quarter in care fourth safety probably were take within also see last with value us about all going the our be the talk happened in

David Tarantino

which culture have how back are to Company guess the then, I the and pull taken your on guess to will is at of on or once to wondering bit necessary this have qualitative more thoughts in seem in just or I'm year a what and the next it. relates reduce much question either in that the overall you've second actions of furloughing costs, lot point. Got I the ability of you're able And employees, impacts them a to that I it your disruption that affect might the outlook the But some so?

Steve Hislop

it the went mentioned for we and think constant management communicated this a Yes, our be end one when little sure long-term We're only and them. success, anybody not bit, cautious come the than home furloughed and professionally thing that, and all our into things. pay of have we're and specifically and within We'd office. even in throughout us I people group also. company offer personally of and I but earlier them about as it, make safe hourly about that talk and in to contact our talking like it constant in specifically at we with you benefits know with a for right and them we're is out for but And to strategy and those we've all time, contact done Jon the and to what role them me for and Company, better this

in home same we in the two on most back. and started how all And contacts. weeks reacted. personable employees hourly the we excited pleased with ago, come We're they've the getting they've thing hourly we're is pretty we're and them office. as bringing said, very just in back then we We're our constant how a about with this So, dealt way our of

a that to the at constantly home back look ramp yet. and back of perspective We'll see we're our and folks But to we evolve up on We haven't continue and forward. to from just working level move and started as forward really work. sales continue office bringing the folks getting culture looking how the add

David Tarantino

resume the What should that. you work that looking dictate capital last again? then to for for at I might is. be what units to I And growth? to for you factors are sequence start the growing putting would the would guess Thanks be had when looking Great. you're when we events ready and question that gauge of

Steve Hislop

Yes.

like to a As I'd going of go I that move forward, or everything as happen that as we going it earlier, forth. think rate again, we Jon I ball to tell no backwards whether type me so is of would to I real stuff. is, position, But crystal see, you real, had comfortable mentioned wish any and obviously, with to burn our with our were and cash one's

we to see us through, close probably have a stores a we that as of and that be being halt to. in pretty go But where to you opened complete put we XXXX were couple

us You'll as in following very similar say. if see the I'd open year four, it to the XXXX those possibly very, three, goes you to years probably planned. everything be next two is what see us depending probably two on And to where is that over

Operator

question. next the question of Our Jefferies. proceed with your Barish Instructions] of line [Operator Andy Please comes from

Andy Barish

your Hey guys, good to hear voice.

and the off-premise? of ramp quick so with any couple has on conversation. mix, a significant change, Just up in of the weeks delivery or been eight last follow there To-go

Jon Howie

sales. we've seen trying what exceeded, been mean, And is delivery digital in. we've increase sales our what and seen Yes, our we've call I have to goal far a digital as obviously the which is

Steve Hislop

that not way, And that so this is was…

Jon Howie

digital right sales that, mean now. I our are it's surpassed No, XX% about probably so

it's of it around at still percentage stayed a it's increased, as consistent total is off-premise, about XX%. delivery but Our XX%, somewhat stays

Andy Barish

how is get you are on off-premise, right sense the menu alcohol now? like gave meals then number, mix of us family core a And Okay. of other of what like items to and things just that the much the kind the driving

Jon Howie

at I in strong report it’s me, would you tell I that, don't pretty mix But have with those Andy. kits. family that

Steve Hislop

family Yes, kits.

Jon Howie

in XX% to the I would it's say, XX%. to beg

Steve Hislop

meals very It’s obviously but the well. kits has it, menu very still convenience And of like not, are and margarita the still those the those very, doing core the done very, majority, family well. obviously is driving

Jon Howie

can that. I on with follow up Andy

Andy Barish

to problem. on XX? or no can you a do with Okay, current get so from next us And stores the then, share sense openings the go as you back to XX you up have

Steve Hislop

we'll determined tell five I of except probably by open five of on them on I'll to all Yes, you the in be end still be local the have month, based that the this last municipalities.

Jon Howie

that's And Colorado.

Steve Hislop

Yes.

Jon Howie

Yes.

Steve Hislop

this of end the month. by much pretty But

Operator

of Our your next is the Please Vaccaro James. line Brian from with question. question proceed of Raymond

Brian Vaccaro

and ways a or just I'm to back kits rooms, the a dining meal keeping as Thanks fan, the if the on some occasion menu? new planning big to on but gradually reopened and this attract firstly does circle in period? curious want evening. you customer even good think, are I you it family those And you during

Steve Hislop

too do keep and that's believe I of Absolutely, alcohol on because now. kits to the we're menu going the the right markets new way the

the going those we all options, a alcohol be be new but going to has bit. definitely yes, to also little not it's a as those far to and and part a as keep That pickup, we're have to-go customer, And maybe as our as obviously. move part So, except a forward. delivery of

this throughout in going very rest priced but that that very, huge value very, conscious is, to this we're little obviously a we the there definitely world One well areas. definitely priced, But again, out. year, now bring in all but very continue in well time of thing -- how they're is a that it's it to and discount,

we looking keep price as those But all do price really plan rest year, year. the the usually is it of at my through of time we increase that the again, frame our that every forward move things, at to February on point

the going little value a more forward year. move of an be to conscious bit have So, rest even of we we're this to through as

Brian Vaccaro

reopen I X.XX. great. down kind frame break back only? partially dining were sales mentioned very that you were to weekend like all that that the I I but seven and of guess, then, also, for rooms off-premise XX what the entire help down look And they that XX% circle know versus units us it's wanted those I in Could And trends, That's Were reopened days? still is week, wanted recent to and ask reopened? you the early, the those clarify, units the that about were

Steve Hislop

No.

that, take they XX So that probably their that started The the And opened be Brian, week. unit that total were average the ended I at that mix if asked have stores. Nick you're week units the earlier. looking about do total

XX% of that that XXX, XX,XXX So, or of about figure was dine-in sales.

So, stores that's close, XX an anomaly, dine-in. pretty but it's the average and XX%

Brian Vaccaro

Okay.

Jon Howie

up. that makes That

Steve Hislop

Yes. them And in up a been don't couple obviously, one of of the open four weeks. everything days week the days have of or you been all week. on been -- open one of they've of was couple all they've -- different so all then day, And kind

So little it's a all in shuffled bit.

Brian Vaccaro

just Okay, great. circle burn back And last wanted rate. then Jon, to on one. I that's weekly the

it not Just that paying heard terms that in then And wanted of rent, but G&A full that what I assumes currently, run-rate? is if you're you rent to $XXX,XXX correctly? paying are embedded also clarify a

Jon Howie

right it our But so period. G&A Well, million is right basically to four rate that around runs $X.X GAAP. a now burn a now period, not week G&A burn rate, $X.X cash million right

see I so XXX,XXX. it's So, yes, --

Brian Vaccaro

Yes.

I burdened comments correctly. but…. your It's with And Okay. rate interpreting was rent, fully

Jon Howie

negotiated those based that's deferring But of some as that's a in into we we into 'XX. normalized payments basis, some those have go on. we've what payments extra we'll rent. defer XXXX, obviously payments, some normalized it's Because the where as on Yes, future

Brian Vaccaro

much. very you Thank Perfect.

Operator

with question with Our next Please from line Todd Instructions] Associates. is proceed King & the C.L. Brooks your question. and [Operator

Todd Brooks

much you're we've worked Has been the where paying base to of more we guess goal these when stand with one lease? percentage Hey, ask? negotiating been sales or with for landlords? has What's abatement has what I maybe model good everyone. a top it type the for one number hope your talking change been for well. of to of Couple rent on and evening, whole, do I not the how landlords, And on questions, of landlords? the you're a it

Steve Hislop

Really, it's all of them.

was pleased our Jon, the we partial just in June abatements So, abatements at abatement least were was at under about April, on we're talked but our and abatement, partial floor to that, about pretty pleased I all them. with talking, and was sun the We May, everything obviously, priorities partial of abatement. beginning XX% be honest on

we're of with pleased kind So, that.

number back a number those, where defer pay the Then that's some and a of them, bit was starting lot are a 'XX, to beyond. 'XX little in really probably of two you're in priority good and

So that. but a a but definitely involved, to percentage that's so forth talked been been the one about later is We main have little the of deferment it's couple rent bit overall on, and years.

Todd Brooks

capture you're wise. And in Texas now? great. Okay, capacity the XX%, the traffic do at you've capacity? I you allow that with I market being XX% what XX% just you're that demand seeing What with in openings know just stores capacity, Texas second question, to seen And market coming to the to do will early think you back all going a you think guess that and the at missing

Steve Hislop

long-term cash not I'll be is might demand, company-wide What a at getting you're ready is XX% our going any. because hardly get capturing wide, really XX%, XX% think strain not don't doing put bit really the XX% company that. restaurants the when specific, I of but all little to you're you're to same-store you're on there do capture to trying at a you

as So example to we're actually always XX, to to to Texas test set make stores go some be go when it goes it's up, an sure XX% that ready our XX%, in to is goal going tomorrow. get at it's XX ready

really people it, get with. So, that's at we how the training we to brought was ready have some have have some leverage key a few the on get menu can back, that us a up up. we we good But little that sales some can XX% and for open for can extra get

Jon Howie

out always your remember, our that just Todd there. it's during include municipalities in other been not the these most distancing part, capacity advantage want when patios, limitations. the most to has our one Then They advantages extreme but social an don't for time of of raining, the

up, been able tables and those fill capacity we've patios up So, spread limits. to our those beyond

been areas in helpful XX%. combat that's the lot XX% help a of to or So,

Operator

question your Jefferies. question. of of next Our line Andy comes from Please the proceed Barish with

Andy Barish

Hey guys.

and early kind back, weeks, last Are still obviously things this very, is and there evolving, circling a operating efficiencies of shown it's chops apply house the know staffing back very running that, that going Just restarts forward of lean on I with of of eight out have the this and you that? and during maybe and but like house guys the the learnings coming process. front

Steve Hislop

to became specifically go back very being kits menu through quick, menu and itself our in might obviously quick able to-go a and we've those this menu to these of very, proper we our going Andy, take do-go and our into adjustments where as to the learnings into the year. on very Absolutely, evolve rest how execute more mix reopening basically but to could making at basis. year, We're next all we important good

is now, that good looking at And your go obviously, cash. forward as P&L, part guys steps all are be really and I watching also And looking move really like, amended was service at looking then and you're also of at really our stuff. good cash will right service at have that levels all we also at,

and So, stuff all best and obviously, will now. talking about hours type be the start to practices of that there's going we're really kilowatt that

come went better than we're So, expecting lot this to of into. out old of it's things, a we but

Operator

at management back closing for the questions now any time. further call will are this I to remarks. over There no hand

Steve Hislop

continued in pretty, Thanks well thank out questions hope Chuy's, everybody be appreciate I there, Jon Okay you but for is will much. any pretty and and We're is doing your and all asking guys, everybody always answer I about to groups well. doing and our interest we doing available so both us. well, safe again.

and evening. have Thank you a good

Operator

This does conference. today's conclude

time. You your may at participation disconnect lines for this Thank have great evening. and a you your

Chuy's (CHUY) 21 May 202020 Q1 Earnings call transcript