Market Updates
Kura Sushi Soars On Third Quarter Results
Scott Peters
07 Jul, 2022
New York City
Kura Sushi USA gained 7.3% to $54.10 and extended gains after the regular hours of trading by another 19.5% to $64.62 after the release of earnings.
Kura said revenues in the third quarter ending in May more than doubled to $38 million from $18.5 million a year ago on a comparable sales increase of 65%.
Net income was $0.5 million or $0.05 per diluted share compared to $0.8 million or $0.09 a share a year ago.
The company guided full-year 2022 total sales between $137 million and $142 million from the previous estimate between $130 million and $140 million.
The company plans to open 8 restaurants with average net capital expenditure of $2.0 million.
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