The ONE Group Reports Positive 3Q Transaction Growth, Stronger Cash Flow

By Karen Roman

The ONE Group Hospitality, Inc. (Nasdaq: STKS) said adjusted EBITDA increased 5% to $11.1 million compared to $10.6 million the year prior, with net cash from operating activities rising 50% to $8.8 million compared to $5.9 million.

Total GAAP revenues were $177.0 million compared to $180.2 million, down 1.8%, due to the Grill Concepts portfolio optimization strategy, partially offset by revenue from new restaurants, it stated.

GAAP operating income rose $11.1 million to $14.6 million from $3.5 million, while consolidated comparable sales decreased 0.4%, the company said.

READ MORE

Agenda with Keynotes 1789 Capital, Better Home: 6th Palm Beach CorpGov Forum Nov 4-5

“We delivered positive transaction growth, while significantly improving operating income and expanding restaurant-level margins. These results reflect the effectiveness of our operational initiatives, the strength of our differentiated restaurant brands and the disciplined execution of our strategic priorities,” said Emanuel “Manny” Hilario, The ONE Group’s President and CEO.

Never Miss our Weekly Highlights HERE

The post The ONE Group Reports Positive 3Q Transaction Growth, Stronger Cash Flow appeared first on ExecEdge.