Loading...
•
Mar 31, 2022
One Group Hospitality Q1 2022 Earnings Report
Reported first quarter financial results with revenue and Adjusted EBITDA increasing.
Key Takeaways
The ONE Group reported a strong first quarter with a 46.9% increase in total GAAP revenues, reaching $74.2 million, and a 65.5% increase in Adjusted EBITDA to $10.8 million. Consolidated comparable sales increased by 45.1% compared to 2021 and net income attributable to The ONE Group was $3.7 million, or $0.11 per share.
Total GAAP revenues increased 46.9% to $74.2 million.
GAAP net income attributable to The ONE Group was $3.7 million, or $0.11 per share.
Restaurant Operating Profit increased 40.8% to $13.0 million.
Adjusted EBITDA increased 65.5% to $10.8 million.
One Group Hospitality
One Group Hospitality
Forward Guidance
The company provided preliminary targets for the second quarter of 2022.
Positive Outlook
- Total GAAP revenues of approximately $76.5 million to $79.0 million
- Owned restaurant net revenue of $73.0 million to $75.0 million
- Management, license and incentive fee revenue of $3.5 million to $4.0 million
- Total G&A of approximately $7.0 million