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By Rayk Riechmann
The ONE Group Hospitality, Inc. (Nasdaq: STKS) remains on track to meet 2025 growth targets with strength at Benihana and new restaurant openings contributing meaningfully to the firm’s top line result.
With 20% year-over-year revenue growth in the second quarter, STKS delivered strong results amid macroeconomic uncertainty and reiterated the ambitious long-term goal to crack $5 billion in system-wide sales. Considering the firm already identified over 200 potential STKs locations and 400 Benihana opportunities across the US, the target is likely within reach.
The Benihana integration is ahead of plan, with deal synergies already captured and a new company-owned Benihana in San Mateo becoming the highest-performing new location in brand history.
Successful changes to the restaurant layout, aesthetic, and pre-opening strategy all contributed to the record opening. Next up is Seattle, where a new Benihana location is scheduled to open doors by year-end.
Shares are trading near their 52-week low as some investors have qualms about profitability. However, management reiterated guidance for 2025 sales and EBITDA and momentum looks strong into the second half.
STKS currently trades at a discount compared to peers on both an EBITDA and sales basis, suggesting there’s room for tasty upside as the company continues to execute.
Check out the link below for our full STKS earnings coverage.
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