One Group Hospitality Q2 2020 Earnings Report
Key Takeaways
The ONE Group Hospitality reported a decrease in total GAAP revenues by 29.4% to $16.7 million compared to $23.6 million in the same period last year. GAAP net loss attributable to The ONE Group was $2.9 million, or $0.10 net loss per share, compared to GAAP net loss of $0.3 million, or $0.01 net loss per share. Adjusted EBITDA decreased to ($0.8) million compared to $2.1 million.
Total GAAP revenues decreased 29.4% to $16.7 million from $23.6 million.
Consolidated comparable sales decreased 66.7% but improved sequentially through the quarter.
GAAP net loss attributable to The ONE Group was $2.9 million, or $0.10 net loss per share, compared to GAAP net loss of $0.3 million, or $0.01 net loss per share, including $0.7 million of incremental costs related to COVID-19.
Adjusted EBITDA decreased to ($0.8) million compared to $2.1 million.
One Group Hospitality
One Group Hospitality
One Group Hospitality Revenue by Segment
Forward Guidance
The ONE Group suspended guidance for 2020 due to the negative effect COVID-19 is having on its operations and financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income