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Stock impact report

GEN Restaurant Group, Inc. Announces Fourth Quarter 2023 Financial Results

GEN Restaurant Group, Inc. (GENK) 
Company Research Source: GlobeNewswire
CERRITOS, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. (“GEN” or the “Company”), owner of GEN Korean BBQ, a fast-growing cook-it-yourself casual dining concept, today announced financial results for the fourth quarter and year ended December 31, 2023. Highlights for the Fourth quarter ended December 31, 2023 were as follows: Revenue increased 10.4% to $45.1 million, compared to $40.8 million in the fourth quarter of 2022;Comparable restaurant sales decreased 1.7% as compared to the fourth quarter in 2022;Income from operations was $(0.9) million and (2.0)% of revenue;Restaurant-level adjusted EBITDA(1) was $7.2 million and 16.0% of revenue;Net Income (loss) was $(0.2) million and (0.4%) of revenue;Adjusted EBITDA(1) was $1.6 million and 3.6% of revenue inclusive of pre-opening expense of approximately $1.2 million. (1)  Adjusted EBITDA and restaurant-level adjusted EBITDA are non-GAAP measures. For reconciliations of adjusted EBITDA and restaurant-level a Show less Read more
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