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Kura Sushi USA, Inc. KRUS reported first-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The metrics increased on a year-over-year basis.
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During the quarter, management highlighted the return of comparable sales to positive territory and record-high Adjusted EBITDA margins. Additionally, the solid performance of new store openings added to the positives. The company remains focused on cost-control measures, strategic expansion and driving operational excellence to sustain its momentum and deliver growth in the coming periods.
Following the results, the company shares gained 4% during the after-hours trading session yesterday.
KRUS Fiscal Q1 Earnings & Revenues
In the quarter under review, the company reported an adjusted loss per share of 8 cents, narrower than the Zacks Consensus Estimate of a loss of 24 cents. In the year-ago quarter, the company reported an adjusted loss per share of 18 cents.
Kura Sushi USA, Inc. Price, Consensus and EPS Surprise
Kura Sushi USA, Inc. price-consensus-eps-surprise-chart | Kura Sushi USA, Inc. Quote
Quarterly revenues of $64.5 million beat the consensus mark of $62 million by 4%. In the prior-year quarter, the company reported revenues of $51.5 million.
KRUS’ Q1 Comps Rise YoY
During the fiscal first quarter, comparable restaurant sales increased 1.8% year over year. In the year-ago quarter, the company reported comparable restaurant sales growth of 3.8% year over year. The upside was backed by successful One Piece and Pikmin IP collaboration campaigns.
Operating Highlights
During the fiscal first quarter, restaurant-level operating profit amounted to $11.7 million compared with $10.1 million reported in the prior-year quarter. Restaurant-level operating profit margin during the quarter came in at 18.2% compared with 19.5% reported in the year-ago period.
General and administrative expenses in the fiscal first quarter came in at $8.7 million compared to $6.6 million in the prior-year period.
During the quarter, food and beverage costs (as a percentage of sales) came in at 29% compared with 29.8% in the prior-year quarter. The downside is primarily due to a rise in menu prices, partially offset by food cost inflation.
Adjusted EBITDA in the fiscal first quarter came in at $3.6 million compared with $1.8 million reported in the prior-year quarter.
Balance Sheet
As of Nov. 30, 2024, cash and cash equivalents totaled $107.7 million compared with $51 million as of Aug. 31, 2024.
Total stockholders’ equity at the end of the fiscal first quarter totaled $227.6 million compared with $163.7 million at the end of fourth-quarter fiscal 2024.