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 (NASDAQ: ARKR) is a restaurant and food service operator that owns and runs restaurants, bars, fast food concepts and catering operations in several U.S. markets. Company news releases describe operations in New York City, Florida, Washington, D.C., Las Vegas, Nevada, Atlantic City, New Jersey and the Gulf Coast of Alabama, including locations in casino resorts, park venues and waterfront destinations.
This news page for ARKR stock aggregates press releases and other coverage related to Ark Restaurants’ financial performance, operational updates and key events. Regular announcements include quarterly and annual financial results, discussions of Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) and "EBITDA, as adjusted," and commentary on how specific properties and markets are performing.
Investors following Ark Restaurants’ news can review updates on lease and legal matters, such as the company’s dispute with the Bryant Park Corporation over the Bryant Park Grill & Cafe and The Porch at Bryant Park leases in New York City. The company has reported that litigation and uncertainty around these leases have affected catering and a la carte revenue and have had a material impact on its business and results of operations.
News items also cover changes in the company’s portfolio, including the closure of El Rio Grande, the termination of the Tampa food court lease at the Hard Rock Hotel and Casino in Florida, impairment charges at the Sequoia property in Washington, D.C., goodwill impairment assessments and developments related to its investment in New Meadowlands Racetrack LLC. Earnings releases often highlight the performance of key venues such as the New York-New York Hotel & Casino Resort operations in Las Vegas, the Rustic Inn and other Florida properties, and the Original Oyster House locations in Alabama.
For readers tracking ARKR, this page provides a central view of Ark Restaurants’ financial updates, property-level commentary, credit facility amendments, dividend declarations when announced and other material events disclosed in company news.
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.
FAQ
What is the current stock price of Ark Restaurants (ARKR)?
What is the market cap of Ark Restaurants (ARKR)?
