Ark Restaurants Corp Reports Significant Loss Despite Revenue Growth in Q2 2024

ARKR announced second quarter of 2024 operating loss of $-1.202 million

Published / Modified May 15 2024
Goran Soko / CSIMarket.com

Ark Restaurants Corp.
(NASDAQ: ARKR) has reported its financial results for the second quarter ended March 30, 2024.
In this period, the company's shortfall per share increased to $-0.40 per share compared to $-0.13 per share in the same period last year.
Additionally, the income per share fell from $0.38 per share in the previous reporting period.
Although the company experienced a slight revenue growth of 0.859% to $42.26 million from $41.90 million in the comparable period a year before, there was a sequential revenue deterioration of -11.014% from $47.49 million.

To place Ark Restaurants Corp's second quarter 2024 results, we must consider the overall restaurant sector.
It is evident that Ark Restaurants Corp has underperformed compared to its peers, as they reported a revenue advance of 1.69% in the comparable period a year before.
Furthermore, for the January to March 30, 2024 financial period, Ark Restaurants Corp realized a net shortfall of $-1.205 million, which is higher than the $-0.244 million reported a year ago.

Additionally, Ark Restaurants Corp (NASDAQ: ARKR) has recently declared a cash dividend of $0.1875 per share.
This dividend payout is scheduled to be distributed on December 13, 2023, to shareholders of record as of November 30, 2023.
The decision to pay dividends and the amount distributed is subject to the company's operating performance and various other factors, ultimately at the discretion of the Board of Directors.

As of the writing of this article, Ark Restaurants Corp's 12 Months dividend pay-out ratio in the third quarter of 2023 has increased to 38.85 from the previous quarter.
However, the ratio still remains below the industry average.
When comparing its performance to peers in the Services sector, it is noteworthy that 73 companies had a higher 12 Months dividend pay-out ratio.
The company's ranking has also improved, moving up from 0 in the second quarter of 2023 to 1459.

Furthermore, it is important to highlight that Ark Restaurants Corp stock has experienced a decline of -6.17% in the past 3 months.
Currently, the stock is trading only 34.8% above its 52-week low.

These factors, including the company's financial performance, dividend payout ratio, stock performance, and industry comparisons, will likely impact Ark Restaurants Corp's future results.
Investors should carefully monitor these developments before making investment decisions.

Ark Restaurants's Revenue Growth

Ark Restaurants's Price to Book ratio


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