Kura Sushi Reports Mixed Q2 Results: EPS Misses, Sales Beat

Kura Sushi USA, Inc. KRUS reported its second-quarter financial results after the bell Thursday. Here's a look at the details. 

The Details: The company reported quarterly losses of 9 cents per share, missing the analyst estimate of losses of 3 cents per share. Quarterly sales came in at $57.29 million, beating the $56.64 million analyst consensus estimate.

“I‘m very pleased to report the ongoing strength of our business as we progress through a record fiscal year. It was unprecedented for us when we announced a guidance raise so early in the year with our first quarter call, and being able to follow the next quarter with another guidance raise demonstrates our incredible confidence in the business,” said Hajime Uba, CEO of Kura Sushi.

Kura Sushi opened five new restaurants during the fiscal second quarter of 2024, and comparable restaurant sales increased 3% for the second quarter of 2024 as compared to the second quarter of 2023.

Outlook: “We’ve opened 10 restaurants to date, putting us well on track for our new unit guidance and giving us the confidence to upgrade our revenue guidance,” said Uba.

Kura Sushi saw fiscal year 2024 total sales between $243 million and $246 million, and expects 13 to 14 new restaurants, with average net capital expenditures per unit of approximately $2.5 million.

The company expects general and administrative expenses as a percentage of sales to be between 14% and 14.5%.

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KRUS Price Action: According to Benzinga Pro, Kura Sushi shares are up 3.13% after-hours at $107.10 at the time of publication Thursday.

Photo: Kevin Petit from Pixabay