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 turn-key food and beverage (F&B) services, and consulting service for hospitality venues, including hotels, casinos and other high-end locations. Its primary restaurant brands are STK, a multi-unit steakhouse concept that combines the high-energy, social atmosphere and service of a traditional upscale steakhouse, and Kona Grill, a polished, casual bar-centric grill concept featuring American favorites, sushi and specialty cocktails in a casual atmosphere. Its F&B hospitality management services are marketed as ONE Hospitality and include developing, managing and operating restaurants, bars, rooftop lounges, pools, banqueting and catering facilities, private dining rooms, room service and mini bars tailored to the specific needs of high-end hotels and casinos.
THE ONE GROUP HOSPITALITY, INC. 
