secwatch.observer — SEC 8-K summary
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Issuer:     ONE Group Hospitality, Inc. (STKS)
CIK:        0001399520
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001558370-24-011111
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1399520/000155837024011111/0001558370-24-011111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1399520/000155837024011111/stks-20240806x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011111

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer