earnings
confidence high
sentiment neutral
materiality 0.70
ONE Group Q3 revenue up 152% to $194M; comparable sales down 8.8%, operating loss $3.0M
ONE Group Hospitality, Inc.
2024-Q3 EPS reported
-$0.95
revenue$451,464,000
- GAAP revenue $194.0M (+152.3% YoY); comparable sales declined 8.8%.
- Operating loss of $3.0M vs $2.0M a year ago, includes $7.1M in transition expenses.
- Restaurant operating profit $25.1M (+175.6%); margin improved 90 bps to 13.2%.
- Updated 2024 revenue guidance $660-$680M; run-rate Adj. EBITDA $111-$116M.
- Closed 4 RA Sushi locations; expect $19M in annual cost savings over next year.