secwatch.observer — SEC 8-K summary
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Issuer:     GEN Restaurant Group, Inc. (GENK)
CIK:        0001891856
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0000950170-24-059510
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GEN Restaurant Group Q1 revenue up 16% to $50.8M; net income falls to $3.7M; same-store sales down 1.8%
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- Revenue $50.8M (+16% YoY); operating income $108K, net income $3.7M vs $4.5M prior year.
- Comparable restaurant sales down 1.8% YoY; costs rose from wage hikes in CA and new store pre-opening expenses of $1.9M.
- Bought out 50% partner in GKBH Restaurant LLC in February; now owns 100% of 40 locations; gain of $3.4M.
- Opened 2 new locations in Q1 (Seattle, Dallas) and 1 in April (Jacksonville); launched Premium Menu at $20 extra.
- Adjusted EBITDA $6.4M (12.5% of rev) vs $5.8M (13.3%); cash $28.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1891856/000095017024059510/0000950170-24-059510-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1891856/000095017024059510/genk-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-059510

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