Welcome to our dedicated page for Ark Restaurants news (Ticker: ARKR), a resource for investors and traders seeking the latest updates and insights on Ark Restaurants stock.
Ark Restaurants Corp (ARKR) is a prominent player in the hospitality industry, known for its ownership and operation of diverse dining establishments across the United States. The company runs 20 restaurants and bars, 21 fast food concepts, and several catering operations, with key locations in New York City, Florida, Washington, D.C., and Las Vegas, NV. The company's portfolio includes five restaurants in New York City, three in Washington, D.C., six in Las Vegas, NV, three in Atlantic City, NJ, one at the Foxwoods Resort Casino in Connecticut, one in Boston, MA, and one in Dania Beach, FL.
In Las Vegas, Ark Restaurants is particularly notable for its operations within the New York-New York Hotel & Casino Resort. This includes four restaurants, the hotel's room service, banquet facilities, an employee dining room, and six food court concepts. Additionally, the company runs a bar within the Venetian Casino Resort and two food court concepts and one restaurant at the Planet Hollywood Resort and Casino.
In Atlantic City, NJ, Ark Restaurants operates a restaurant and a bar in the Resorts Atlantic City Hotel and Casino and another restaurant in the Tropicana Hotel and Casino. In Florida, the company owns The Rustic Inn in Dania Beach, Shuckers in Jensen Beach, JB's on the Beach in Deerfield Beach, and The Blue Moon Fish Company in Fort Lauderdale, along with fast food facilities in Tampa and Hollywood.
Expanding beyond these regions, Ark Restaurants also manages the Original Oyster Houses in Gulf Shores and Spanish Fort, Alabama. This diversity in location and concept allows the company to cater to a wide range of customers and preferences, thereby solidifying its presence in the competitive hospitality market.
Financially, Ark Restaurants Corp has shown resilience and adaptability, continuously exploring new opportunities to enhance its portfolio. The company's focus on high-quality service, unique dining experiences, and strategic locations has been key to its sustained growth and success. Recent developments and updates on their financial performance can be followed through their latest news releases.
Ark Restaurants (NASDAQ:ARKR) announced financial results for the fourth quarter and fiscal year ended September 28, 2024. Total revenues for Q4 2024 were $43.4M, slightly down from $44.4M in Q4 2023. Annual revenues for 2024 were $183.5M, down from $184.8M in 2023. Company-wide same-store sales decreased by 3.6% for Q4 2024 and 1.1% for the year.
Net loss for Q4 2024 was $4.5M or $1.24 per share, an improvement from a net loss of $10.4M or $2.88 per share in Q4 2023. Annual net loss for 2024 was $3.9M or $1.08 per share, compared to $5.9M or $1.65 per share in 2023. Adjusted EBITDA for Q4 2024 was $503K, compared to $585K in Q4 2023. For the year, adjusted EBITDA was $6.1M, down from $9.3M in 2023.
As of September 28, 2024, Ark Restaurants had $10.3M in cash and cash equivalents and $5.2M in total debt. The company also recorded significant impairment charges and losses related to property closures and lease terminations.
Ark Restaurants Corp. (NASDAQ:ARKR) has scheduled a conference call to discuss its fourth quarter and year-end financial results for the period ended September 28, 2024. The call will take place on Tuesday, December 17, 2024, at 11:00 a.m. Eastern Time.
Investors can participate via toll-free (1-877-407-4018) or international (1-201-689-8471) numbers. The call will also be broadcast online, with a replay available until December 24, 2024.
The company currently operates 17 restaurants and bars, 16 fast food concepts, and catering operations across multiple locations including New York City, Florida, Washington DC, Las Vegas, Nevada, and Alabama. Notable operations include restaurants within the New York-New York Hotel & Casino Resort, Planet Hollywood Resort and Casino, and various locations at Hard Rock Hotels and Casinos operated by the Seminole Indian Tribe.
Ark Restaurants Corp. (NASDAQ:ARKR) reported financial results for Q3 2024. Total revenues were $50,396,000, down from $51,051,000 in Q3 2023. For the 39-week period, revenues slightly decreased to $140,139,000 from $140,393,000. Company-wide same-store sales decreased 2.3% excluding Gallagher's Steakhouse. EBITDA, as adjusted, for Q3 2024 was $3,375,000, down from $4,663,000 in Q3 2023. Net income for Q3 2024 was $640,000 ($0.18 per share), compared to $3,195,000 ($0.89 per basic share) in Q3 2023. The company recognized impairment charges of $2,500,000 related to its Sequoia property in Washington, D.C. As of June 29, 2024, Ark had a cash balance of $11,467,000 and total outstanding debt of $5,738,000.
Ark Restaurants Corp. (NASDAQ: ARKR) has announced a conference call to discuss financial results for Q3 2024, ending June 29, 2024. The call will take place on Tuesday, August 13, 2024, at 11:00 a.m. Eastern Time.
Participants can join via toll-free at 1-877-407-4018 or internationally at 1-201-689-8471. The call will also be broadcast online at this link. A replay will be accessible within three hours post-call until August 20, 2024, at 11:59 p.m. Eastern Time, via toll-free 1-844-512-2921 or internationally 1-412-317-6671, with Pin Number 13748396.
Ark Restaurants operates 17 restaurants and bars, 16 fast food concepts, and catering services primarily in New York City, Florida, Washington, DC, Las Vegas, Nevada, and Alabama's Gulf Coast.
Ark Restaurants Corp. (NASDAQ: ARKR) reported financial results for Q2 2024, ending March 30, 2024. The company posted total revenues of $42.26 million, slightly higher than $41.90 million in Q2 2023. For the first half of 2024, revenues were $89.74 million, up from $89.34 million in the same period last year. Adjusted EBITDA for Q2 2024 was a loss of $321,000 compared to a gain of $1.00 million in Q2 2023. Net loss for Q2 2024 was $1.45 million, or $0.40 per share, worsening from a net loss of $484,000, or $0.13 per share, in Q2 2023. For the first half of 2024, adjusted EBITDA was $2.25 million, down from $4.02 million in the first half of 2023. Net loss for the first half of 2024 was $79,000 compared to net income of $1.24 million in 2023. A quarterly dividend of $0.1875 per share was announced, payable on June 12, 2024.
Ark Restaurants Corp. (NASDAQ:ARKR) will hold a conference call to discuss financial results for the second quarter ended March 30, 2024. The call will take place on Tuesday, May 14, 2024, at 11:00 a.m. Eastern Time. Investors and analysts can participate via dial-in numbers or through an online broadcast. Ark Restaurants owns and operates restaurants, bars, fast food concepts, and catering operations across various locations.
Ark Restaurants announced a quarterly cash dividend of $0.1875 per share to be paid on June 12, 2024, to shareholders of record as of May 31, 2024. The Board of Directors will decide on future dividends based on the Company's operating performance and other factors.
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