Q2 revenue jumps 107% to $172.5M on Benihana acquisition; comps down 7%

ONE Group Hospitality, Inc.

2024-Q2 EPS reported -$0.43 revenue$257,489,000

GAAP net loss $11.5M ($0.36/share); adjusted net income $0.08/share vs $0.06 prior year.
Adjusted EBITDA up 180.6% to $23.9M; Restaurant Operating Profit up 151.3% to $30.0M.
Reaffirms FY2024: revenue $700-$740M, Adj. EBITDA $95-$100M, 8-11 new venues.
Completed $365M Benihana acquisition in May; expects $20M annual synergies, $9M realized to date.
Comparable sales decreased 7.0%; share repurchases $0.9M in Q2.

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