ONE Group Q4 revenue +1.8% to $89.9M; FY net income $4.7M vs $13.5M; guides FY24 rev $360-380M

ONE Group Hospitality, Inc.

Q4 GAAP net income $4.6M ($0.15/sh); adjusted net income $5.3M ($0.17/sh).
Q4 comparable sales -4.3% YoY; STK -4.6%, Kona Grill -3.9%.
Q4 adjusted EBITDA $14.5M, +11.3% YoY; FY adjusted EBITDA $40.1M vs $41.3M.
Opened six restaurants in 2023; plans 6-8 new venues in 2024.
Board authorized additional $5M share repurchase; total $15M spent to date.

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 fourth quarter and full year ended December 31, 2023 results: revenue Total GAAP revenues increased 1.8% to $89.9 million from $88.3 million, net income GAAP net income attributable to The ONE Group was $4.6 million, or $0.15 per share ($0.17 adjusted net income per share), EPS $0.15 per share.

Period: fourth quarter and full year ended December 31, 2023
Revenue: Total GAAP revenues increased 1.8% to $89.9 million from $88.3 million
Net income: GAAP net income attributable to The ONE Group was $4.6 million, or $0.15 per share ($0.17 adjusted net income per share)
EPS: $0.15 per share
Result: reported results

Exact text from the filing

fourth quarter and full year ended December 31, 2023. Highlights for the fourth quarter compared to the same quarter in 2022 are as follows: ● Total GAAP revenues increased 1.8% to $89.9 million from $88.3 million; ● Comparable sales* decreased 4.3% compared to 2022 and increased 40.1% compared to 2019; ● GAAP net income attributable to The ONE Group

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Source: SEC EDGAR

accession 0001558370-24-003230

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