ARKR Nasdaq· Ark Restaurants Corporation
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ARKR Nasdaq· Ark Restaurants Corporation
Earnings report Q4 2023

ARKR Reports Stable Revenue in Latest Quarter

Segments of revenue

ARKR reported total revenues of $47.49 million for the 13 weeks ended December 30, 2023, which remained relatively stable compared to the same period last year. The company generated $46.63 million from food and beverage sales, while other revenue contributed $0.86 million to the total.


Despite the challenging operating environment, ARKR managed to maintain its revenue levels in the latest quarter. The stability in food and beverage sales indicates a consistent customer demand for the company's offerings. Additionally, the management's focus on cost control is evident from the slight decrease in food and beverage cost of sales, which helped maintain profitability.


ARKR faced certain challenges in the latest quarter. Payroll expenses increased to $16.98 million, reflecting higher labor costs. This could be attributed to factors such as wage inflation or increased staffing requirements. The company also experienced a rise in occupancy expenses, reaching $6.33 million, which may be indicative of higher rent or lease costs.


It is worth mentioning that ARKR recorded a gain of $285,000 on the forgiveness of PPP loans. This gain contributed to the company's overall net income for the quarter. Additionally, the non-controlling interests' share of net income decreased from $297,000 in the previous year to $226,000 in the current quarter.


ARKR demonstrated resilience in maintaining stable revenue levels in the latest quarter, despite facing challenges such as increased labor and occupancy expenses. The company's focus on cost control and the gain from the forgiveness of PPP loans contributed to its overall profitability. However, it is important for ARKR to closely monitor and manage its expenses to ensure sustained financial performance in the future.

Source documents

Form 10-Q  filed on Feb 13, 2024
116 pages scanned

Reference data

Company financials Q4 revenue 47.5M
Analyst estimates Q4 EPS missed by NaN%
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