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Jun 30, 2022
One Group Hospitality Q2 2022 Earnings Report
Reported financial results with revenue increase and net income delivery despite industry headwinds.
Key Takeaways
The ONE Group reported a 14.6% increase in total GAAP revenues to $81.1 million compared to the same period in 2021. The company delivered $4.3 million in net income, with consolidated comparable sales increasing by 12.8% compared to 2021 and 53.5% compared to pre-pandemic 2019.
Total GAAP revenues increased 14.6% to $81.1 million from $70.8 million.
GAAP net income attributable to The ONE Group was $4.3 million, or $0.13 per share ($0.15 adjusted net income per share) compared to GAAP net income of $13.8 million, or $0.41 per share ($0.19 adjusted net income per share).
Restaurant Operating Profit decreased 16.7% to $12.8 million from $15.3 million.
Adjusted EBITDA decreased 19.6% to $10.4 million from $12.9 million.
Revenue by Segment
Forward Guidance
The company plans to open nine new venues in the back half of 2022 and forsees a total addressable market of at least 400 restaurants.
Positive Outlook
- Nine new venues expected to open in the back half of the year.
- Targeting between 40% and 50% ROIs for new Company-Owned STKs.
- Targeting between 40% and 50% ROIs for new Company-Owned Kona Grills.
- Foresees a total addressable market of at least 400 restaurants.
- 200 STK restaurants globally and at least 200 Kona Grills domestically with best in class returns.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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