Gen Restaurant Group reports Q1 EPS 11c, consensus 1c

Last night, the company also reported Q1 revenue $50.8M, consensus $48.1M. “Our first quarter performance reflects continued execution on our strategic growth initiatives to rapidly expand GEN’s geographic coverage,” said David Kim, co-CEO. “We opened two new restaurants during the first quarter that have been performing at or above our initial expectations and helped drive our 16% revenue increase. In addition, our third new location this year has also been performing well in the initial weeks since opening. In February, we bought out our partner in Hawaii and now own 100% of our 40 locations nationwide. As we move further into 2024, we remain focused on growing our restaurant count and providing a superior customer experience, like the recent launch of our new premium menu. Supported by a strong cash position and cost-efficient business model, we believe we are well positioned to continue increasing market share and maximize shareholder value over the long-term.”