NASDAQ$STKS
One Group Hospitality Inc/Th · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
The ONE Group's financial performance decreased in Q2 2023, with net income and Adjusted EBITDA declining compared to the same period in 2022, but total GAAP revenues increased.
The ONE Group reported a 2.8% increase in total GAAP revenues, reaching $83.4 million. However, consolidated comparable sales decreased by 4.7%. GAAP net income was $0.6 million, or $0.02 per share, while Adjusted EBITDA was $8.5 million. The company opened a new Kona Grill in Riverton, Utah, and is planning further expansion with eight to twelve new venues in 2023.
- Total GAAP revenues increased 2.8% to $83.4 million.
- Consolidated comparable sales decreased 4.7% compared to 2022.
- GAAP net income attributable to The ONE Group was $0.6 million, or $0.02 per share.
- Adjusted EBITDA was $8.5 million.
Headline financials
Revenue & EPS history
One Group Hospitality · Revenue · Quarterly
$83.4M
Revenue by segment
One Group Hospitality · $83.4M total across 2 segments · Q2 2023
- Owned Restaurant Net Revenue$79.9M+3.9%95.8%
- Management, License, Franchise and Incentive Fee Revenue$3.47M-17.3%4.2%
Forward guidance
The Company is updating the following targets for 2023.
Tailwinds
- Total GAAP revenues $350M to $365M
- Managed, license and incentive fee revenues $15.0M to $15.5M
- Total owned operating expenses as a percentage of owned restaurant net revenue 83.0% to 82.0%
- Consolidated Adjusted EBITDA $45M to $50M
- Operating income $20.5M to $24.5M
Headwinds
- Total G&A excluding stock-based compensation $27M to $29M
- Restaurant pre-opening expenses $5.5M to $6.5M
- Effective income tax rate 5% to 10%
- Total capital expenditures, net of allowances received by landlords 2.5% of Company-owned revenue
- Total capital expenditures, net of allowances received by landlords $3.0M to $3.5M per new Company-owned venue
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+2.0%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+4.0%
Avg return
30 days after
53%
25 / 47 earnings
Positive
+32.4%
Q2 2020
Best reaction
-18.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.6% | +10.3% | -2.2% | |
| Q4 2025 | +6.4% | +6.4% | -2.3% | |
| Q3 2025 | -3.1% | -8.2% | -0.5% | |
| Q1 2025 | +0.7% | -14.8% | -12.4% | |
| Q4 2024 | +0.8% | +8.5% | +7.8% | |
| Q3 2024 | -13.3% | -16.3% | -9.0% | |
| Q2 2024 | -15.0% | -14.8% | -16.9% | |
| Q1 2024 | -4.5% | +9.7% | +9.1% | |
| Q4 2023 | +7.6% | +17.1% | +47.7% | |
| Q3 2023 | -0.4% | -1.8% | +9.7% | |
| Q2 2023 | -5.2% | -5.0% | -1.0% | |
| Q1 2023 | +2.0% | -10.9% | -4.3% | |
| Q4 2022 | -3.5% | -4.7% | -2.6% | |
| Q3 2022 | -18.7% | -26.5% | -7.8% | |
| Q2 2022 | -9.3% | -5.5% | -19.9% | |
| Q1 2022 | -0.6% | -5.5% | -0.1% | |
| Q4 2021 | +6.2% | +14.1% | +3.3% | |
| Q3 2021 | +5.9% | +7.0% | -15.6% | |
| Q2 2021 | +20.6% | +7.1% | +1.7% | |
| Q1 2021 | +22.6% | +14.3% | +38.0% | |
| Q4 2020 | -7.3% | -5.2% | +7.1% | |
| Q3 2020 | +22.2% | +30.9% | +36.1% | |
| Q2 2020 | +32.4% | +16.6% | +16.6% | |
| Q1 2020 | -5.8% | -12.3% | +43.5% | |
| Q4 2019 | +28.0% | -2.3% | +6.1% | |
| Q3 2019 | +4.1% | +1.6% | +1.9% | |
| Q2 2019 | -1.4% | -11.3% | -8.4% | |
| Q1 2019 | -3.9% | -7.9% | -15.8% | |
| Q4 2018 | -3.0% | -0.5% | +0.3% | |
| Q3 2018 | -1.0% | -1.7% | -21.0% | |
| Q2 2018 | -2.1% | +3.5% | +14.0% | |
| Q1 2018 | +7.6% | +10.3% | +9.4% | |
| Q4 2017 | +6.2% | +5.0% | -9.7% | |
| Q3 2017 | +4.0% | +24.7% | +40.0% | |
| Q2 2017 | +1.1% | -0.6% | -14.2% | |
| Q1 2017 | +2.5% | +1.1% | -4.7% | |
| Q4 2016 | +9.3% | +11.6% | +27.7% | |
| Q3 2016 | +1.7% | -1.3% | +11.2% | |
| Q2 2016 | -10.9% | -12.4% | -6.9% | |
| Q1 2016 | +1.2% | — | — | |
| Q4 2015 | +9.1% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | -6.3% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | +0.2% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
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| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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