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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.
Kura Sushi
Kura Sushi
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