ONE Group Hospitality (STKS) Misses Q3 EPS by 9c, Miss on Revenues

ONE Group Hospitality (NASDAQ: STKS) reported Q3 EPS of ($0.05), $0.09 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $17.8 million versus the consensus estimate of $19.37 million.

Highlights for the third quarter ended September 30, 2017 were as follows:

• Total GAAP revenue decreased 3.1% to $17.8 million during the quarter compared to the same period last year. This reflects an increase in management and incentive revenues ($0.4 million) offset by decreases due to Hurricane Irma ($0.3 million) and a previously closed store ($0.8 million);
• Total food and beverage sales at owned and managed units* increased 8.9% to $43.1 million during the quarter compared to the same period last year;
• Comparable sales for owned and managed STK units* increased 1.9% during the quarter compared to the same period last year (excludes an estimated 2.1% impact from the closures as a result of Hurricane Irma in Florida). Without this exclusion, comparable sales for owned and managed STK units were down 0.2%;
• GAAP net loss from continuing operations before income taxes improved by $1.6 million to $0.8 million as compared to $2.4 million for the same period last year;
• GAAP net loss attributable to The ONE Group Hospitality, Inc. for the quarter was $1.2 million or ($0.05 loss per share) compared to GAAP net income of $1.5 million ($0.06 per share) for the same period last year; and,
• Adjusted EBITDA** increased 75% to $1.4 million during the quarter compared to the same period last year.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Reading (RDI) Tops Q2 EPS by 4c
• SanDisk upgraded at JPMorgan after investor day; shares climb