Loading...
•
Mar 31, 2024
Gen Q1 2024 Earnings Report
GEN Restaurant Group reported first quarter results, with revenue increase driven by new restaurant openings and strategic growth initiatives.
Key Takeaways
GEN Restaurant Group reported a 16% increase in total revenue to $50.8 million compared to the first quarter of 2023. Net income was $3.7 million, and adjusted EBITDA was $6.4 million. The company opened two new locations during the quarter and launched a new Premium Menu.
Total revenue increased by 16% to $50.8 million compared to the first quarter of 2023.
Net Income was $3.7 million and 7.3% of revenue.
Adjusted EBITDA was $6.4 million and 12.5% of revenue, inclusive of pre-opening expenses of $1.9 million.
Two new locations were opened in Seattle, Washington and Dallas, Texas during the first quarter of 2024.
Gen
Gen
Forward Guidance
The company remains focused on growing its restaurant count and providing a superior customer experience.