Kura Sushi Q3 2022 Earnings Report
Key Takeaways
Kura Sushi USA, Inc. reported a strong fiscal third quarter 2022 with total sales of $38.0 million, a 65% increase in comparable restaurant sales, and a net income of $0.5 million, or $0.05 per diluted share. The company opened one new restaurant during the quarter and is on track to open at least eight new restaurants for the full fiscal year.
Total sales increased to $38.0 million from $18.5 million in Q3 2021.
Comparable restaurant sales increased by 65% compared to Q3 2021.
Operating income was $0.5 million, a decrease compared to $0.9 million in Q3 2021.
Net income was $0.5 million, or $0.05 per diluted share, compared to $0.8 million, or $0.09 per diluted share, in Q3 2021.
Kura Sushi
Kura Sushi
Forward Guidance
For the full fiscal year 2022, Kura Sushi expects total sales between $137 million and $142 million, general and administrative expenses as a percentage of sales of approximately 16.5%, and 8 new restaurants openings.
Positive Outlook
- Total sales between $137 million and $142 million.
- General and administrative expenses as a percentage of sales of approximately 16.5%.
- Opening 8 new restaurants.
- Average net capital expenditures per unit of approximately $2.2 million.