NASDAQ$STKS
One Group Hospitality Inc/Th · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
The ONE Group's financial performance in Q3 2023 was marked by increased total GAAP revenues but a net loss, with progress in long-term growth strategy and cost initiatives.
The ONE Group reported a 5.3% increase in total GAAP revenues to $76.9 million, but experienced a net loss of $3.1 million, or $0.10 per share. Consolidated comparable sales decreased by 3.0%. The company opened new Kona Grill and STK locations and is focused on cost initiatives and expansion.
- Total GAAP revenues increased by 5.3% to $76.9 million.
- Consolidated comparable sales decreased by 3.0%.
- GAAP net loss attributable to The ONE Group was $3.1 million, or $0.10 per share.
- Restaurant Operating Profit was $9.1 million.
Headline financials
Revenue & EPS history
One Group Hospitality · Revenue · Quarterly
$76.9M
Revenue by segment
One Group Hospitality · $76.9M total across 2 segments · Q3 2023
- Owned Restaurant Net Revenue$73.7M—95.9%
- Management, License, Franchise and Incentive Fee Revenue$3.18M—4.1%
Forward guidance
The Company is updating the following targets for 2023:
Tailwinds
- Total GAAP revenues between $335M to $345M
- Managed, license and incentive fee revenues between $14.5M to $15.0M
- Total owned operating expenses as a percentage of owned restaurant net revenue between 84.0% to 83.0%
- Total G&A excluding stock-based compensation between $26M to $27M
- Consolidated Adjusted EBITDA between $40M to $45M
Headwinds
- Restaurant pre-opening expenses at $8M
- Operating income between $11.5M to $16.5M
- Effective income tax rate between 5% to 10%
- Total capital expenditures, net of allowances received by landlords at 2.5% of Company-owned revenue and approximately $4.0M per new Company-owned venue
- Number of new system-wide venues at Eight
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 Q3 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 2011 | — | — | — | |
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| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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