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Sep 30, 2020
One Group Hospitality Q3 2020 Earnings Report
Total GAAP revenues increased and operating income was positive, driven by the addition of Kona Grill restaurants and cost-saving measures.
Key Takeaways
The ONE Group reported a 79% increase in total GAAP revenues to $39.6 million, driven by the acquisition of Kona Grill. The company also reported positive operating income and sequential improvement in comparable sales trends.
Total GAAP revenues increased 79.0% to $39.6 million.
Consolidated comparable sales decreased 15.6% but improved sequentially through the quarter.
GAAP net loss attributable to The ONE Group was $0.9 million, or $0.03 net loss per share.
Adjusted EBITDA increased 76.9% to $4.7 million.
Forward Guidance
Due to the ongoing uncertainty surrounding the effects of the pandemic, the Company cannot reasonably predict when its restaurants will be able to return to normal dining room operations. The Company expects that its results of operations could be materially and negatively affected by COVID-19 for the remainder of 2020 and suspended annual guidance effective March 17, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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