ONE Group Q3 2022 GAAP net income falls to $0.5M from $11.7M; revenue up 1.6%

ONE Group Hospitality, Inc.

2022-Q3 EPS reported $0.25 revenue$228,326,000

Total GAAP revenues $73.0M, up 1.6% YoY; GAAP net income $0.5M ($0.01 EPS) vs $11.7M ($0.34 EPS).
Adjusted EBITDA down 29% to $7.1M; Restaurant Operating Profit down 21.3% to $9.1M (13.1% of owned rev).
Consolidated comparable sales +0.5% vs 2021 and +45.6% vs 2019; STK comp +70.6% vs 2019.
Opened STK San Francisco (Aug 2022) and STK Dallas (Nov 2022); six more venues planned by Q1 2023.
Repurchased 500K shares for $3.5M under $10M buyback authorization; cash $17.5M at Sep 30, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONE Group Hospitality, Inc. reported third quarter ended September 30, 2022 results: revenue $73.0 million, net income $0.5 million, EPS $0.01 per share.

Period: third quarter ended September 30, 2022
Revenue: $73.0 million
Net income: $0.5 million
EPS: $0.01 per share
Result: reported results

Exact text from the filing

for the third quarter ended September 30, 2022. Highlights for the third quarter compared to the same period in 2021 are as follows: ● Total GAAP revenues increased 1.6% to $73.0 million from $71.9 million; ● GAAP net income attributable to The ONE Group was $0.5 million, or $0.01 per share ($0.07 adjusted net income per share) ****, compared to GAAP net income

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Source: SEC EDGAR

accession 0001558370-22-016260

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