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Jun 30, 2023
Gen Q2 2023 Earnings Report
GEN Restaurant Group reported solid top-line performance driven by comparable restaurant sales growth and new restaurant openings.
Key Takeaways
GEN Restaurant Group reported a 10.1% increase in revenue to $46.5 million compared to the second quarter of 2022, driven by a 1.4% increase in comparable restaurant sales and three new restaurant openings. Net income was $4.5 million, representing 9.6% of revenue, and adjusted EBITDA was $6.1 million, inclusive of pre-opening expenses.
Revenue increased by 10.1% to $46.5 million compared to Q2 2022.
Comparable restaurant sales increased by 1.4% compared to fiscal 2022.
Three new restaurants were opened, including the first GEN restaurant in Florida.
Net income reached $4.5 million, accounting for 9.6% of revenue.