Kura Sushi reports Q2 adjusted EPS (14c), consensus (14c)

Reports Q2 revenue $64.89M, consensus $64.87M. Comparable restaurant sales decreased 5.3%. Hajime Uba, president and CEO of Kura Sushi (KRUS), stated, “We had a very productive second quarter, making headway on the new market opportunities represented by our success in Bakersfield, building out our IP pipeline, and beginning testing or rollout of several systems projects that have long been in development. New restaurant openings are going exceptionally smoothly, with 11 units opened to-date and another six under construction. While the inclement weather was an unexpected sales pressure, we’re pleased overall with the quarter due to the great progress we’ve made across our initiatives.”