The ONE Group Hospitality, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:07 pm EDT
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The ONE Group Hospitality, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 79.92 million compared to USD 76.93 million a year ago. Revenue was USD 83.39 million compared to USD 81.13 million a year ago. Net income was USD 0.568 million compared to USD 4.3 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.13 a year ago.
For the six months, sales was USD 158.5 million compared to USD 147.45 million a year ago. Revenue was USD 165.95 million compared to USD 155.31 million a year ago. Net income was USD 3.17 million compared to USD 7.97 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.23 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.