The ONE Group Hospitality, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:16 pm EST
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The ONE Group Hospitality, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 73.7 million compared to USD 69.54 million a year ago. Revenue was USD 76.88 million compared to USD 73.02 million a year ago. Net loss was USD 3.1 million compared to net income of USD 0.482 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
For the nine months, sales was USD 232.2 million compared to USD 216.98 million a year ago. Revenue was USD 242.83 million compared to USD 228.33 million a year ago. Net income was USD 0.076 million compared to USD 8.46 million a year ago.
The ONE Group Hospitality, Inc. is an international restaurant company, which develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos, and other high-end venues. Its primary restaurant brands and operations are STK, an American steakhouse concept with restaurants in various metropolitan cities in the United States, Europe, and the Middle East, featuring steaks, seafood, and specialty cocktails; Benihana, an operator of highly differentiated experiential brands that owns the national teppanyaki brand in the United States; Kona Grill, a polished casual, bar-centric grill concept with restaurants in the United States; RA Sushi, a Japanese cuisine concept, and ONE Hospitality, its food and beverage hospitality services business that develops, manages, and operates restaurants and turnkey food and beverage services within high-end hotels and casinos operating in the United States and Europe.