NYSE$SHCO
Soho House & Co Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Soho House's second-quarter performance in 2024 reflected strong global appeal, membership growth, and strategic focus on operational efficiencies.
Soho House & Co. reported a 5.6% year-over-year increase in total revenues, reaching $305.1 million. Membership revenues grew by 16.1% to $103.6 million, and the company opened new Soho House locations in Sao Paulo and Bodrum. The company's Adjusted EBITDA was $33.3 million, up from $31.756 million in Q2 2023.
- Total membership reached 264,540, a 6.6% increase year-over-year.
- Soho House members grew to 204,028, a 16% increase year-over-year.
- Membership revenues accounted for 33.9% of total revenues.
- Adjusted EBITDA increased to $33.3 million.
Headline financials
Revenue & EPS history
Soho House · Revenue · Quarterly
$305M
Revenue by segment
Soho House · $180M total across 3 segments · Q3 2021
- In-House revenue$67M—37.2%
- Other revenue$62M—34.4%
- Membership revenue$51M—28.3%
Forward guidance
Soho House & Co. updated its fiscal year 2024 guidance, expecting Total Soho House Members to be greater than 212,000 and membership revenues between $410 million and $420 million. Total revenues are projected to be between $1,200 million and $1,250 million, with Adjusted EBITDA between $157 million and $165 million.
Tailwinds
- Membership continues to reach new highs benefiting from a record waitlist and continued high retention rates
- Focused rollout of initiatives continue to improve member experience and service in our Houses, as illustrated by higher member satisfaction scores
- Opened Soho House Sao Paulo and Scorpios Bodrum in June and announced four upcoming Houses across Europe and Asia
- Like-for-like Food & Beverage margins at our Houses improved compared to the second quarter 2023, despite cost inflation
- Further streamlined corporate support functions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q2 2024
+5.1%
Avg return
Earnings day
+10.4%
Avg return
5 days after
+13.8%
Avg return
30 days after
73%
11 / 15 earnings
Positive
+41.8%
Q3 2024
Best reaction
-27.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.1% | -0.2% | -0.9% | |
| Q2 2025 | +12.5% | +18.1% | +36.8% | |
| Q1 2025 | +5.1% | -3.4% | +3.9% | |
| Q4 2024 | +2.2% | -21.8% | -10.6% | |
| Q3 2024 | +41.8% | +45.2% | +49.9% | |
| Q2 2024 | +1.7% | +15.2% | +21.8% | |
| Q1 2024 | +10.8% | +8.0% | -1.0% | |
| Q4 2023 | +23.7% | +21.9% | +10.7% | |
| Q3 2023 | — | — | — | |
| Q2 2023 | — | — | — | |
| Q1 2023 | — | — | — | |
| Q4 2022 | +3.2% | — | — | |
| Q3 2022 | -27.8% | — | — | |
| Q2 2022 | -16.8% | — | — | |
| Q1 2022 | -3.9% | — | — | |
| Q4 2021 | +13.4% | — | — | |
| Q3 2021 | +12.1% | — | — | |
| Q2 2021 | -1.0% | — | — |
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