Latest news with #STK
Globe and Mail
6 days ago
- Business
- Globe and Mail
One Group (STKS) Q2 Revenue Rises 20%
Key Points GAAP revenue rose 20.2% year over year to $207.4 million in the quarter but missed analyst estimates. Comparable restaurant sales (non-GAAP) fell 4.1% as Profit margins (restaurant EBITDA as a percentage of company-owned STK revenue, non-GAAP) declined from 17.7% in Q1 2025 to 15.9% amid elevated costs. GAAP net loss widened to $10.1 million, while Adjusted EBITDA improved to $23.4 million. These 10 stocks could mint the next wave of millionaires › One Group Hospitality (NASDAQ:STKS), operator of upscale and experiential dining brands like STK and Benihana, reported financial results for Q2 2025 on August 5, 2025. The most significant development was a 20.2% jump in GAAP revenue, reaching $207.4 million, largely thanks to the Benihana acquisition. However, this figure fell short of analyst expectations of $208.9 million in GAAP revenue, and the company posted a diluted non-GAAP earnings per share (EPS) of $0.05. Comparable sales (non-GAAP) decreased 4.1%, and GAAP net loss widened from the year-ago period. Overall, results matched internal expectations but highlight ongoing margin and cost pressures as the firm integrates new brands and pursues asset-light growth. Metric Q2 2025 Q2 Estimate Q2 2024 Y/Y Change EPS, Diluted (Non-GAAP) $0.05 $0.09 $0.19 (73.7%) Revenue $207.4 million $208.9 million $172.5 million 20.2% Restaurant EBITDA $31.9 million $29.6 million 7.8% Adjusted EBITDA $23.4 million $21.8 million N/A Consolidated Comparable Sales (4.1%) (7.0%) 2.9 pp Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Business Overview and Strategic Focus One Group Hospitality operates restaurant concepts targeting upscale and casual dining, including STK, Benihana, Kona Grill, and RA Sushi. Its brands emphasize high-energy, social experiences—sometimes called "vibe dining"—that distinguish it from traditional chains. Over the last year, acquiring Safflower Holdings brought Benihana and RA Sushi under the corporate umbrella, making Benihana the leading revenue contributor. The company's core focus has been expanding its reach while controlling costs and capital expenditure. It aims to open five to seven new venues in 2025, combining company-owned and franchised sites under a 'capital-light' strategy. By increasing franchise and management arrangements, it seeks growth with less direct investment, entering new markets while minimizing risk. The emphasis remains on operational efficiency, customer experience, and scaling the loyalty program to build engagement and repeat visits. Quarterly Performance: Revenue, Costs, and Brand Results The quarter's standout figure was the significant GAAP revenue gain—a 20.2% increase driven by the integration of Benihana. Restaurant EBITDA—a measure of profit at the restaurant level before company-wide costs and one-time items—rose 8%, but Restaurant EBITDA margin (non-GAAP) declined to 15.7% from 17.5%. Adjusted EBITDA, which removes some one-time and integration-related expenses, edged up 7.3%. Results came just under analyst estimates, with GAAP revenue of $207.4 million, mainly because Comparable sales (non-GAAP) across existing locations decreased 4.1%. Comparable sales—a widely used metric showing sales performance at ongoing locations—were down 4.1% (non-GAAP). Breaking it down, Benihana saw positive 0.4% same-store sales growth (non-GAAP), while the core STK brand posted a 4.9% drop in same store sales and the grill concepts suffered a 14.6% fall in same store sales. STK did record a 2.8% increase in customer transactions, helped by value-driven menu strategies, such as midweek dining bundles and happy hour promotions. Grill concepts continue to face tough competition from heavy television advertising by larger chains. Cost pressures remained clear throughout the quarter. Operating expenses climbed to 84.7% of owned restaurant net revenue, up from 82.6% in Q2 2024. Restaurant operating costs grew as a share of net sales, hitting 63.5% versus 61.4% of owned restaurant net revenue for Q2 FY2025 and Q2 FY2024, respectively. General and administrative costs (GAAP) were $11.662 million. Interest expense (GAAP) was $10.295 million. as the company carried higher debt from its acquisitions. Lease exit costs and other one-time expenses, especially from shutting underperforming grill locations, also weighed on profitability—recorded at $5.6 million. At the balance sheet level, long-term debt (GAAP) was $327.5 million as of June 29, 2025, and the company had $15.1 million in available cash and credit card receivables. While it maintains enough liquidity and no current debt covenants, costs tied to the acquisition strategy are visible in both margin deterioration and in the GAAP net loss. The company executed only modest share buybacks, totaling $0.6 million. In terms of expansion, four new venues opened in the first half of FY2025, including owned Benihana restaurants and an STK relocation, plus the second franchised Benihana Express. Management, license, franchise and incentive fee revenue was $3.472 million. Management points to this segment as a key potential growth lever but acknowledges it will take time to ramp up. Finally, new customer initiatives included the soft launch of the Friends With Benefits loyalty program, which is being introduced across all brands, with emphasis on bringing in the casual brands first. Management reported that customer experience and execution in casual units meet internal standards, but that pricing remains deliberately constrained to drive repeat visits and recover market share rather than short-term margin improvement. Looking Ahead: Guidance and Key Watchpoints The company provided guidance for the next quarter, projecting total GAAP revenue of $190–$195 million, consolidated comparable sales (non-GAAP) between (4%) and (2%), and Adjusted EBITDA guidance of $15–$18 million. For FY2025, GAAP guidance is for revenue between $835 and $870 million and adjusted EBITDA in the $95–$115 million range. Five to seven new venues are expected for the full year, with most openings weighted to the back half of the year. No dividend is currently paid on common stock. Looking forward, investors will likely follow several evolving trends: progress in comparable sales (non-GAAP) recovery at Benihana and STK, margin development as integration efforts mature, and the ability to offset higher costs with operating efficiencies. Given the firm's high leverage and expansion plans, close attention to free cash flow, liquidity, and debt levels will also remain essential in the coming quarters. STKS does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of August 4, 2025
The Sun
31-05-2025
- Automotive
- The Sun
JPJ: Two key improvements to heavy vehicle inspection procedures effective June 1
PUTRAJAYA: The Road Transport Department (JPJ) today announced two key improvements to the vehicle inspection process at Motor Vehicle Inspection Centres (PPKM), including those operated by Puspakom Sdn Bhd, effective tomorrow (June 1). JPJ director-general Datuk Aedy Fadly Ramli said the move aims to enhance vehicle safety standards while improving system efficiency and service quality for users. 'The improvements involve inspections of tyre tread depth and heavy duty dumper tipper vehicles,' he said in a statement today. He said the tyre tread depth inspections are in line with current safety standards. 'JPJ requires all commercial vehicles, both goods and public service vehicles, to have a minimum tread depth of 1.6mm across the entire surface of the tyre that makes contact with the road,' he said. Aedy Fadly said that previously, JPJ required Puspakom to ensure at least 75 per cent of the tyre surface met the minimum tread depth requirement during inspections. 'With the new stipulation, any commercial vehicle that fails to meet the requirement will not pass the vehicle inspection,' he added. He added that JPJ, in collaboration with Puspakom, has also stepped up enforcement to ensure heavy duty dumper or tipper lorries do not have side boards that exceed the approved specifications. 'This is in line with the permit conditions set by the Land Public Transport Agency (APAD) and the approved Vehicle Technical Plan,' he said. Additionally, owners of heavy duty dumper or tipper lorries transporting special loads are now required to present the commercial vehicle approval offer letter (STK) and relevant permits during inspections at Puspakom. This is to ensure that the vehicle's body type and the nature of the load conform to the approved specifications. 'The move to tighten enforcement on heavy duty dumper or tipper vehicles aligns with the implementation of a special body code for those transporting specific loads such as fertiliser, coal, fly ash, gypsum, sawdust, corn, palm kernel, and rice,' he said. Aedy Fadly added that the enforcement aims to prevent the misuse of vehicle specifications while ensuring road safety and compliance with regulations for operating special load vehicles. He said vehicle owners whose vehicles fail inspection at Puspakom have two options: either refer to APAD to correct the permit and obtain a new one based on the original load specified in the technical plan, or apply to JPJ for a new technical plan based on the correct body code for the load being carried. In addition, owners must adjust the side board height to the required 762mm, with no changes allowed to the existing dumper tipper body code, before presenting the vehicle for reinspection at Puspakom. 'These improvements will enhance road safety, reduce the risk of accidents, and ensure better compliance with existing regulations,' he added.
The Sun
31-05-2025
- Automotive
- The Sun
JPJ enhances vehicle inspection rules starting June 1
PUTRAJAYA: The Road Transport Department (JPJ) today announced two key improvements to the vehicle inspection process at Motor Vehicle Inspection Centres (PPKM), including those operated by Puspakom Sdn Bhd, effective tomorrow (June 1). JPJ director-general Datuk Aedy Fadly Ramli said the move aims to enhance vehicle safety standards while improving system efficiency and service quality for users. 'The improvements involve inspections of tyre tread depth and heavy duty dumper tipper vehicles,' he said in a statement today. He said the tyre tread depth inspections are in line with current safety standards. 'JPJ requires all commercial vehicles, both goods and public service vehicles, to have a minimum tread depth of 1.6mm across the entire surface of the tyre that makes contact with the road,' he said. Aedy Fadly said that previously, JPJ required Puspakom to ensure at least 75 per cent of the tyre surface met the minimum tread depth requirement during inspections. 'With the new stipulation, any commercial vehicle that fails to meet the requirement will not pass the vehicle inspection,' he added. He added that JPJ, in collaboration with Puspakom, has also stepped up enforcement to ensure heavy duty dumper or tipper lorries do not have side boards that exceed the approved specifications. 'This is in line with the permit conditions set by the Land Public Transport Agency (APAD) and the approved Vehicle Technical Plan,' he said. Additionally, owners of heavy duty dumper or tipper lorries transporting special loads are now required to present the commercial vehicle approval offer letter (STK) and relevant permits during inspections at Puspakom. This is to ensure that the vehicle's body type and the nature of the load conform to the approved specifications. 'The move to tighten enforcement on heavy duty dumper or tipper vehicles aligns with the implementation of a special body code for those transporting specific loads such as fertiliser, coal, fly ash, gypsum, sawdust, corn, palm kernel, and rice,' he said. Aedy Fadly added that the enforcement aims to prevent the misuse of vehicle specifications while ensuring road safety and compliance with regulations for operating special load vehicles. He said vehicle owners whose vehicles fail inspection at Puspakom have two options: either refer to APAD to correct the permit and obtain a new one based on the original load specified in the technical plan, or apply to JPJ for a new technical plan based on the correct body code for the load being carried. In addition, owners must adjust the side board height to the required 762mm, with no changes allowed to the existing dumper tipper body code, before presenting the vehicle for reinspection at Puspakom. 'These improvements will enhance road safety, reduce the risk of accidents, and ensure better compliance with existing regulations,' he added.
Los Angeles Times
21-05-2025
- Business
- Los Angeles Times
The ONE Group Moves STK Los Angeles to New Location in Westwood
The ONE Group Hospitality, Inc. is continuing its culinary expansion in the greater Los Angeles area with the relocation of its longstanding Westwood restaurant to a striking new venue. On the heels of opening the doors of a new STK Steakhouse in Topanga, the newly relocated STK Los Angeles restaurant – now located at 1100 Glendon in Westwood – continues to serve up the brand's signature 'Vibe Dining' for lunch, dinner, happy hour and weekend brunch. 'STK Los Angeles has long been a staple of the vibrant and chic culinary scene in the City of Angels, attracting celebrities, influencers and visitors for nearly two decades,' said Emanuel Hilario, president and CEO of The ONE Group. 'While we have loved calling the W Hotel home for the past 10 years, the new venue for STK Los Angeles enables us to accommodate even more guests eager to enjoy our rich Vibe Dining experience and exhibits our commitment to expanding in the area.' As with all STK Steakhouse restaurants, the new location in Los Angeles' Westwood Village features a high-energy design, including the signature white horn wall, STK 'RED' bull sculptures, STK flower letters perfect for social media content, vibrant neon signs and opulent white florals throughout the restaurant. STK is a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere. While STK Los Angeles will no longer call The W Hotel home, The ONE Group will maintain its food & beverage partnership with the venue. The previous home of STK Los Angeles has reopened as Samurai Steakhouse – a restaurant concept featuring Japanese cuisine and a unique take on the traditional steakhouse, offered al fresco on the patio and the main dining room, to reopen in June. The ONE Group will also continue to operate The Hideout restaurant and bar at the outdoor patio and pool area of the W Hotel, providing an outdoor dining environment. Information was sourced from Businesswire. To learn more, contact STK@
Business Wire
19-05-2025
- Business
- Business Wire
The ONE Group Hospitality, Inc. Moves STK Los Angeles to New Location, Bringing the Brands Signature Vibe Dining to a Breathtaking New Venue
DENVER--(BUSINESS WIRE)--The ONE Group Hospitality, Inc. (Nasdaq: STKS) is continuing its culinary expansion in the greater Los Angeles-area with the relocation of its longstanding Westwood restaurant to an expansive new venue. On the heels of opening the doors of a new STK Steakhouse in Topanga, the newly relocated STK Los Angeles restaurant – located at 1100 Glenwood Ave. – continues to serve up the brand's signature and unmatched 'Vibe Dining' for lunch, dinner, happy hour and weekend brunch. 'STK Los Angeles has long been a staple of the vibrant and chic culinary seen in the City of Angels, attracting celebrities, influencers and visitors for nearly two decades,' said Emanuel 'Manny' Hilario, President and CEO of The ONE Group. 'While we have loved calling the W Hotel home for the past 10-years, the new venue for STK Los Angeles enables us to accommodate even more guests eager to enjoy our rich Vibe Dining experience and exhibits our commitment to expanding in the area.' As with all STK Steakhouse restaurants, the new location in Los Angeles' vibrant Westwood Village features a sophisticated, high-energy design, including the signature white horn wall, STK 'RED' bull sculptures, STK flower letters perfect for social media content, vibrant neon signs and opulent white florals throughout the restaurant. The new location also features unique illuminated LED columns and ceiling ribbons that can be adjusted to an array of colors based on time of day, music and private event needs. The dining room features a mix of tables with white leather chairs and the iconic white circular dining booths – perfect for larger parties. Finally, two private dining rooms provide the perfect setting for more intimate events and special events, while floor to ceiling windows allows the bright California sunlight to flood the main the dining area with natural light. Guests can indulge in the same craveable favorites they have come to know and love when dining at STK, including the legendary Lil' BRG Sliders, Wagyu Meatballs, Short Rib Quesadillas and expansive selection of premium steaks – including cuts of Wagyu from around the globe. The steakhouse also offers an elevated takeout and delivery experience, bringing its upscale culinary flair straight to your doorstep. With a robust, award-winning wine list, STK invites guests to perfectly pair its premium dry-aged steaks with standout varietals from around the globe. Hours of operation for the new STK Westwood are as follows: Sunday – Thursday: 2:30 pm – 11 pm Friday - Saturday: 2:30 pm – 12 am While STK Los Angeles will no longer call The W Hotel home, The ONE Group will maintain its food & beverage partnership with the venue. The previous home of STK Los Angeles has reopened as Samurai Steakhouse – a restaurant concept offering an elegant presentation of Japanese cuisine and unique take on the traditional steakhouse, currently offered al fresco on the patio and the main dining room to reopen in June. The ONE Group will also continue to operate The Hideout restaurant and bar at the outdoor patio and pool area of the W Hotel, providing one of the most exciting outdoor dining environments in Los Angeles. This new Company-owned location is now open, and reservations are available to book online at About The ONE Group The ONE Group Hospitality, Inc. (Nasdaq: STKS) is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group's focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are: STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere. Benihana, an interactive dining destination with highly skilled chefs preparing food right in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails. The Company franchises Benihanas in the U.S., Caribbean, Central America, and South America. Kona Grill, a polished casual, bar-centric grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere. RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere with restaurants in the U.S. anchored by creative sushi, inventive drinks, and outstanding service. Salt Water Social is your gateway to the seven seas, featuring an array of signature and unique fresh seafood items, complemented by the highest quality beef dishes and elegant, delicious cocktails. Samurai, an interactive dining experience located in sunny Miami, FL and in Westwood, CA, provides a distinctive dining experience where skilled personal chefs masterfully perform the ancient art of teppanyaki, anywhere from two to twenty tables, right before your eyes along with a robust selection of steak offerings. ONE Hospitality, The ONE Group's food and beverage hospitality services business develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe. Additional information about The ONE Group can be found at
