ONE Group Hospitality (STKS) Reports Q1 EPS of $0.00, Beats on Revenues

ONE Group Hospitality (NASDAQ: STKS) reported Q1 EPS of $0.00. Revenue for the quarter came in at $20.4 million versus the consensus estimate of $16.87 million.

Highlights for the first quarter ended March 31, 2017 were as follows:

• The first quarter marked our twelfth consecutive quarter of revenue growth;
• Total GAAP revenue increased 24.6% to $20.4 million;
• Comparable sales for owned and managed STK units* increased 2.7% during the quarter and after adjusting for the impact of leap day in 2016, same-store sales increased 3.6%.
• Total food and beverage sales at owned and managed units* increased 18.0% to $41.6 million;
• GAAP net loss attributable to The ONE Group Hospitality, Inc. for the quarter was $402,000 ($0.02 loss per share) as compared to a GAAP net loss of $457,000 ($0.02 loss per share) for the same period last year; and
• Adjusted EBITDA increased 50.9% during the quarter to $1.6 million from $1.1 million from prior year. **

For earnings history and earnings-related data on ONE Group Hospitality (STKS) click here.

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