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May 31, 2021
Kura Sushi Q3 2021 Earnings Report
Kura Sushi's financial performance significantly improved, driven by increased sales and restaurant-level profitability.
Key Takeaways
Kura Sushi USA, Inc. reported a strong recovery in its fiscal third quarter 2021, with total sales reaching $18.5 million compared to $2.8 million in the same quarter of the previous year. The company achieved an operating income of $0.9 million, a net income of $0.8 million, and opened one new restaurant. All restaurants were operating at full capacity by the end of the quarter.
Total sales increased to $18.5 million from $2.8 million in Q3 2020.
Operating income was $0.9 million, compared to an $8.0 million operating loss in Q3 2020.
Net income reached $0.8 million, or $0.09 per diluted share, compared to a $9.2 million net loss, or ($1.10) per diluted share, in Q3 2020.
One new restaurant was opened during the third quarter of 2021.
Forward Guidance
Company expects to maintain growth momentum in fiscal 2022.
Positive Outlook
- All restaurants operating at full capacity
- Team members ready to capitalize on guests’ pent-up demand
- Busiest and most productive development year ever
- Successfully opened seven new restaurants
- Entered five new markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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