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Kura Sushi Soars 20% after Q3 Sales Beat Estimates

Shares of Irvine-based Kura Sushi USA Inc. (Nasdaq: KRUS) jumped as much as 20% in after-hours trading after reporting third-quarter sales that topped analysts’ consensus estimates.

The company reported total sales more than doubled to $38 million for the period ended May 31, topping the average analyst estimate of $35.5 million.

“The strong sales momentum from the first half of our fiscal year continued into the third quarter, exemplified by comparable sales growth of 28.3% versus our pre-pandemic fiscal 2019 results and another record sales quarter for the company,” Chief Executive and President Hajime Uba said in a statement.

Kura Sushi boosted its 2022 revenue forecast to between $137 million to $142 million; analysts were expecting $135.9 million.

Currently valued at $553 million, the Japanese restaurant company jumped 20% to $64.95.

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