Amergent Hospitality Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
December 13, 2022 at 03:41 pm EST
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Amergent Hospitality Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 0.109 million compared to USD 0.136 million a year ago. Revenue was USD 5.4 million compared to USD 5.88 million a year ago. Net loss was USD 1.47 million compared to net income of USD 0.008 million a year ago. Basic loss per share from continuing operations was USD 0.09. Diluted loss per share from continuing operations was USD 0.09.
For the nine months, sales was USD 0.357 million compared to USD 0.304 million a year ago. Revenue was USD 16.63 million compared to USD 15.91 million a year ago. Net loss was USD 1.9 million compared to USD 1.97 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.13 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.13 a year ago.
Amergent Hospitality Group Inc. owns, operates and franchises fast casual dining concepts. It operates and franchise a total of 34 fast casual restaurants of which 23 are Company-owned and 11 are owned and operated by franchisees under franchise agreements. The Company operates The Burger Joint (BGR), Little Big Burger (LBB) and Jaybee's Chicken Place (Jaybee's) restaurants in the United States (US). BGR operates company restaurants in the mid-Atlantic region of the United States, as well as franchise locations across the US. BGR consists of approximately five Company-owned locations in the United States and seven franchisee-operated locations in the United States. LBB consists of approximately 14 Company-owned locations in the Portland, Oregon, Seattle, Washington, and Charlotte, North Carolina areas. Jaybee's is located in Portland, Oregon. The Company operates gaming machines in Portland, Oregon under license from the Oregon Lottery Commission at The Nest.