Kura Sushi USA, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended May 31, 2024
July 09, 2024 at 04:20 pm EDT
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Kura Sushi USA, Inc. reported earnings results for the third quarter and nine months ended May 31, 2024. For the third quarter, the company reported sales was USD 63.08 million compared to USD 49.24 million a year ago. Net loss was USD 0.558 million compared to net income of USD 1.68 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to basic earnings per share from continuing operations of USD 0.16 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to diluted earnings per share from continuing operations of USD 0.16 a year ago.
For the nine months, sales was USD 171.85 million compared to USD 132.5 million a year ago. Net loss was USD 3.6 million compared to USD 1.42 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.32 compared to USD 0.14 a year ago.
Kura Sushi USA, Inc. (Kura Sushi) is a technology-enabled Japanese restaurant. Kura Sushi is engaged in serving Japanese cuisine through a sushi service model. Kura Sushi menu comprises nigiri, rolls, hand roll, gunkan, sides, noodles, and desserts. Its nigiri includes seared eel with miso cream cheese, albacore otoro, garlic ponzu salmon, salmon toro and yellowtail. Its rolls include caterpillar roll, ikura norimaki, rainbow roll and shrimp avocado roll. Its hot rolls include avocado hand roll, spicy tuna hand roll, eel hand roll (soy paper) and vegetable hand roll (soy paper). Its gunkan includes ikura (salmon roe), real crab meat and tuna yukhoe. Its sides include chicken gyoza dumplings, fried takoyaki, softshell crab tempura and yellowtail cheek. Its noodles include beef udon, shoyu ramen and tonkotsu ramen. Its desserts include watermelon, vanilla ice cream and watermelon. The Company operates over 54 restaurants across 15 states and Washington, District of Columbia.