GEN Restaurant Group Q2 revenue up 10.1% to $46.5M; net income $4.5M

GEN Restaurant Group, Inc.

Revenue $46.5M (+10.1% YoY); comparable restaurant sales up 1.4%.
Net income $4.5M (9.6% of revenue); adjusted EBITDA $6.1M (13.2% of revenue).
Three new restaurant openings in Q2; total 34; IPO closed June 30 at $12.00/share.
IPO net proceeds ~$46.2M; used for working capital, growth, general corporate purposes.
Cost of goods sold down 160 bps; payroll & benefits up 200 bps due to wage increases.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GEN Restaurant Group, Inc. reported second quarter ended June 30, 2023 results: revenue $46.5 million, net income $4.5 million.

Period: second quarter ended June 30, 2023
Revenue: $46.5 million
Net income: $4.5 million
Result: reported results

Exact text from the filing

today announced financial results for the second quarter ended June 30, 2023. Highlights for the Second quarter ended June 30, 2023 were as follows: • Revenue increased 10.1% to $46.5 million, compared to $42.2 million in the second quarter of 2022; • Comparable restaurant sales increased 1.4% as compared to fiscal 2022; • Three new restaurant openings including the

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GEN Restaurant Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-212384

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