51.5 F
Laguna Hills
Thursday, Mar 28, 2024
-Advertisement-

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.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-