ONE Group Hospitality Second Quarter 2023 Earnings: Misses Expectations
ONE Group Hospitality (NASDAQ:STKS) Second Quarter 2023 Results
Key Financial Results
Revenue: US$83.4m (up 2.8% from 2Q 2022).
Net income: US$568.0k (down 87% from 2Q 2022).
Profit margin: 0.7% (down from 5.3% in 2Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.018 (down from US$0.13 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ONE Group Hospitality Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 85%.
Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Hospitality industry in the US.
Performance of the American Hospitality industry.
The company's shares are down 8.3% from a week ago.
Risk Analysis
You still need to take note of risks, for example - ONE Group Hospitality has 4 warning signs (and 2 which are significant) we think you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
