Kura Sushi Reports Mixed Q2 Results: EPS Misses, Sales Beat
Portfolio Pulse from Erica Kollmann
Kura Sushi USA, Inc. (NASDAQ:KRUS) reported mixed Q2 financial results with a larger-than-expected loss per share but higher sales than anticipated. The company missed EPS estimates with a loss of 9 cents per share against an expected loss of 3 cents, but surpassed sales forecasts with $57.29 million against an expected $56.64 million. CEO Hajime Uba expressed confidence in the business, noting the opening of five new restaurants in Q2 and a total of 10 to date, with plans for 13 to 14 new restaurants in fiscal year 2024. The company raised its revenue guidance for FY 2024 to between $243 million and $246 million. KRUS shares rose 3.13% in after-hours trading to $107.10.
April 04, 2024 | 8:39 pm
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Kura Sushi reported mixed Q2 results with a larger EPS loss than expected but higher sales. The company is confident, opening new restaurants and raising FY2024 revenue guidance. Shares rose 3.13% after-hours.
Despite the EPS miss, the positive sales beat and the company's confident outlook, including the opening of new restaurants and raised revenue guidance for FY2024, likely contributed to the positive after-hours stock price movement. The company's strategic expansion and upward revision of its revenue forecast signal strong future prospects, positively impacting investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100