The One Grou Ord Stock Price, News & Analysis

The ONE Group Hospitality (Nasdaq: STKS) has announced the opening of its newest Benihana location in San Mateo, California, marking the first Benihana opening under The ONE Group's ownership. The 7,000-square-foot restaurant, located at the Bridgepointe Shopping Center, represents the company's fifth Benihana and sixth overall location in the Bay Area.

The new venue features 18 teppanyaki tables, semi-private dining options, and a bar and lounge area. It combines traditional Japanese elements with modern design, including a Japanese Torii gate and a real-wood Mt. Fuji art installation. The restaurant offers a diverse menu of teppanyaki cuisine, sushi, and handcrafted cocktails, with operating hours from 11 a.m. to 10 p.m. Sunday-Thursday and 11 a.m. to 11 p.m. Friday-Saturday.

CEO Emanuel Hilario highlighted the company's expansion strategy, noting a total addressable market of 400 domestic Benihana locations through company-owned, franchised, and licensed locations.

The ONE Group Hospitality (STKS) reported strong financial results for Q4 and full year 2024, highlighted by significant revenue growth following the Benihana acquisition. Q4 revenue surged 146.7% to $221.9 million, while full-year revenue increased 102.3% to $673.3 million.

Despite these gains, the company faced challenges with comparable sales declining 4.3% in Q4 and 6.8% for the full year. Q4 operating income rose 158.9% to $12.8 million, though the company reported a net loss of $5.4 million ($0.18 per share). The full-year results showed a net loss of $35.0 million ($1.12 per share).

Looking ahead, management plans to open 5-7 new venues in 2025, including an owned Benihana in San Mateo. The company aims to achieve $20 million in cost savings by year-end 2026 through administrative costs reduction, supply chain synergies, and cost management. As of December 31, 2024, the company maintained $38.1 million in cash and short-term receivables, with $33.6 million available under its revolving credit facility.

The ONE Group Hospitality (Nasdaq: STKS) has scheduled its Q4 and full year 2024 earnings conference call for March 10, 2025, at 4:30 PM ET. President and CEO Emanuel 'Manny' Hilario and CFO Tyler Loy will lead the discussion. The financial results will be released via press release after market close on the same day.

Investors can access the conference call by dialing 412-542-4186. A replay will be available until March 24, 2025, by dialing 412-317-6671 with passcode 10196501. The webcast will be accessible through the Investor Relations section of the company's website at www.togrp.com under 'News / Events'.

The ONE Group (Nasdaq: STKS) reported preliminary sales results for Q4 and full year 2024. Total GAAP revenues for Q4 are expected to be around $221.0 million, marking a 145% increase from $89.9 million in the same period last year. However, comparable sales are anticipated to have decreased by approximately 4.3%.

For the full year 2024, total GAAP revenues are projected to be about $672.0 million, a 102% rise from $332.8 million in 2023, while comparable sales are expected to have fallen by around 6.8%. The revenue increases exclude contributions from the acquisition of Benihana Inc., which closed in May 2024.

CEO Emanuel “Manny” Hilario highlighted the strong end to the year, noting positive transactions at STK and improved sales at Benihana.

The company opened five new Company-owned restaurants and one managed STK in 2024. Plans for the future include opening five to six new Company-owned locations annually and focusing on asset-light development of managed and licensed STKs, Kona Grills, and franchised Benihanas.

Mr. Hilario and CFO Tyler Loy will present at the 27th Annual ICR Conference on January 13, 2025.

The ONE Group Hospitality (Nasdaq: STKS) has announced its participation in the 27th Annual ICR Conference. The Company will conduct a fireside chat on Monday, January 13, 2025, at 11:00 am Eastern Time in Orlando, FL.

Interested parties can access the webcast through the Investor Relations section of The ONE Group's website (www.togrp.com) under the 'News / Events' tab.

The ONE Group Hospitality (Nasdaq: STKS) has opened its 30th STK Steakhouse location at Niagara Falls, Canada. Located at 6700 Fallsview Blvd. within the Embassy Suites Hotel, the new restaurant offers views of Niagara Falls, VIBE dining experience, classic steakhouse dishes, signature cocktails, and live DJ entertainment. The location operates Sunday through Thursday from 11:30 a.m. to 11 p.m., and Friday & Saturday from 11:30 a.m. to 12 a.m. The new establishment, developed in partnership with Fallsview Group, features an award-winning wine list and provides takeout and delivery services.

The ONE Group Hospitality (Nasdaq: STKS) has announced its participation in the Stephens Investment Conference (NASH2024) in Nashville, Tennessee. The Company will conduct a fireside chat on Wednesday, November 20, 2024, at 1:00 pm Central Time.

Interested parties can access the webcast through the Investor Relations section of The ONE Group's website (www.togrp.com) under the 'News / Events' tab.

The ONE Group reported its Q3 2024 financial results, highlighting a 152% increase in revenue to $194 million compared to the same quarter in 2023. This growth is attributed to the acquisition of Benihana and RA Sushi, effective cost management, and new restaurant openings.

However, comparable sales decreased by 8.8%, and the company recorded an operating loss of $3 million, including $7.1 million in acquisition-related expenses. Despite this, restaurant operating profit rose by 175.6% to $25.1 million, and the operating profit margin improved to 13.2%.

The company implemented $19 million in annual savings, with a total of $20 million expected over two years. Looking ahead, The ONE Group plans to open 5-6 company-owned locations annually while focusing on asset-light development. Liquidity remains strong with over $70 million available. The company also updated its 2024 targets, projecting total revenues of $660-$680 million and adjusted EBITDA of $71-$76 million.

The ONE Group Hospitality (Nasdaq: STKS) announced it will host a conference call and webcast to discuss third quarter 2024 financial results on November 7, 2024, at 4:30 PM ET. President and CEO Emanuel 'Manny' Hilario and CFO Tyler Loy will lead the discussion. The financial results will be released after market close on the same day. The conference call will be accessible by dialing 412-542-4186, with a replay available until November 21, 2024, at 412-317-6671 using passcode 10192106. The webcast can be accessed through the company's website.