Ark Restaurants Corp. Reports First Quarter Financial Results for 2025

Ark Restaurants Corp. (NASDAQ: ARKR) recently disclosed its financial outcomes for the initial quarter concluding on December 28, 2024. The company unveiled total revenues of $44,988,000 for the 13-week period compared to $47,487,000 for the corresponding period in 2023. Excluding revenues attributed to El Rio Grande and the Tampa Food Court, Ark Restaurants observed a 2.3% decline in company-wide same-store sales.

Net income attributable to Ark Restaurants Corp. for the 13 weeks ending December 28, 2024, was $3,164,000, equivalent to $0.88 per basic and diluted share. This marked an increase compared to net income of $1,370,000, translating to $0.38 per basic and diluted share for the 13 weeks ending December 30, 2023. The company’s Earnings before Interest, Taxes, Depreciation, and Amortization (“EBITDA”), as adjusted, for the quarter concluded on December 28, 2024 was $1,378,000 versus $2,572,000 for the quarter ceased on December 30, 2023.

Moreover, as of December 28, 2024, Ark Restaurants possessed cash and cash equivalents amounting to $13,101,000 alongside total outstanding debt of $4,702,000. Notably, the company indicated specific financial events during the period, including a loss on the closure of El Rio Grande and a gain on the termination of the Tampa Food Court lease.

Looking ahead, the Company mentioned that its agreements for the Bryant Park Grill & Cafe and The Porch at Bryant Park are set to expire on April 30, 2025. Management continues to work on obtaining extensions, emphasizing the importance of safeguarding the Company’s interests.

The company is scheduled to hold a conference call on February 11, 2025, at 11:00 a.m. Eastern Time to discuss these results and address additional topics.

Ark Restaurants owns and runs various restaurants, bars, fast food concepts, and catering operations, primarily situated in New York City, Florida, Washington, DC, Las Vegas, Nevada, and the Gulf Coast of Alabama. The company manages locations in prominent areas, including New York City, Las Vegas, Atlantic City, and Florida.

It should be noted that forward-looking statements in this release involve specific risks and uncertainties that may influence the Company’s future financial standing. For interested investors, more details can be found in the Company’s filings with the Securities and Exchange Commission regarding these forward-looking statements.

Further information about Ark Restaurants Corp. can be obtained via their official website at www.arkrestaurants.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ark Restaurants’s 8K filing here.

About Ark Restaurants

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. It operates restaurants in New York City; Washington, DC; Las Vegas, Nevada; Atlantic City, New Jersey; Florida; and Alabama, as well as fast food concepts and catering operations. The company was incorporated in 1983 and is based in New York, New York.