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Sep 30, 2024
One Group Hospitality Q3 2024 Earnings Report
Increased revenue by 152% and implemented $19 million in annual savings.
Key Takeaways
The ONE Group reported a significant increase in revenue, driven by the acquisition of Benihana and RA Sushi, and implemented cost-saving measures.
Total GAAP revenues increased 152.3% to $194.0 million.
Comparable sales decreased 8.8%.
Restaurant Operating Profit increased 175.6% to $25.1 million.
Implemented $19 million in annual savings to be realized over the next year.
One Group Hospitality
One Group Hospitality
One Group Hospitality Revenue by Segment
Revenue by Segment
Owned Restaurant Net Revenue
CapyFin.comManagement, License, Franchise and Incentive Fee Revenue
CapyFin.com Forward Guidance
The company plans to open five to six Company-owned locations annually while focusing on asset light development.
Positive Outlook
- Focusing on asset light development of managed and licensed STKs and Kona Grills and franchised Benihanas.
- Prioritizing free cash flow generation.
- Prioritizing balance sheet flexibility.
- Prioritizing maximizing shareholder returns.
- Expect to open a managed STK in Niagara Falls.
Revenue & Expenses
Visualization of income flow from segment revenue to net income