NASDAQ$GENK
Gen Restaurant Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced second quarter 2024 financial results, highlighting a revenue increase and strategic expansion efforts.
GEN Restaurant Group reported a 15.9% increase in total revenue to $53.9 million for the second quarter of 2024. The company's net income was $2.1 million, with adjusted EBITDA at $4.9 million. The company opened one new location and is increasing its guidance to open 10 to 11 new locations by the end of 2024.
- Total revenue increased by 15.9% to $53.9 million compared to the second quarter of 2023.
- Income from operations was $1.6 million, representing 3.0% of revenue.
- Adjusted EBITDA was $4.9 million, or 9.1% of revenue, inclusive of pre-opening expenses of approximately $1.6 million.
- The company opened one new location in Jacksonville, Florida and anticipates opening 10 to 11 total new locations in 2024.
Headline financials
Revenue & EPS history
Gen · Revenue · Quarterly
$53.9M
Forward guidance
GEN Restaurant Group anticipates opening 10 to 11 new locations by the end of 2024 and remains focused on expansion and delivering a value-focused dining experience.
Tailwinds
- Increasing guidance to open 10 to 11 new locations by the end of 2024.
- Three new locations already completed.
- Seven new locations currently under construction.
- Focus on expansion and delivering an exceptional dining experience.
- Strong balance sheet and profitable operating model.
Headwinds
- Broader environment experiencing a pullback in consumer spending.
- Persistent inflationary pressures.
- Comparable restaurant sales decreased 5.6% in the second quarter of 2024.
- Restaurant pre-opening expenses increased to $1.6 million for the second quarter of 2024 from $0.9 million in the second quarter of 2023.
- Net income decreased due to higher expenses for new restaurant development and increased general and administrative expenses from being a public company.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 11 quarterly earnings reports · overlaid with Q2 2024
-5.1%
Avg return
Earnings day
-7.6%
Avg return
5 days after
-7.2%
Avg return
30 days after
25%
3 / 12 earnings
Positive
+22.8%
Q4 2024
Best reaction
-18.8%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.1% | +0.5% | -4.5% | |
| Q4 2025 | -2.7% | -20.9% | -16.8% | |
| Q3 2025 | -6.0% | -1.5% | -14.8% | |
| Q2 2025 | -15.3% | -18.1% | -25.1% | |
| Q1 2025 | -15.8% | -19.4% | -20.0% | |
| Q4 2024 | +22.8% | +14.5% | -12.4% | |
| Q3 2024 | -15.2% | -15.0% | -15.9% | |
| Q2 2024 | +14.4% | +0.5% | +9.2% | |
| Q1 2024 | +7.7% | +6.2% | -6.5% | |
| Q4 2023 | -18.8% | -16.9% | +61.3% | |
| Q3 2023 | -14.8% | -8.9% | -13.8% | |
| Q2 2023 | -13.5% | -12.6% | -26.9% | |
| Q1 2023 | — | — | — | |
| Q4 2022 | — | — | — | |
| Q3 2022 | — | — | — | |
| Q2 2022 | — | — | — | |
| Q1 2022 | — | — | — | |
| Q4 2021 | — | — | — | |
| Q4 2020 | — | — | — |
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