ARKR
Ark Restaurants Corp.6.63
-0.23-3.35%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Efficiency drove margins; weather hit Florida.
Q&A clarified Q1 margin gains stemmed from menu reengineering, payroll efficiencies, and modest price hikes—not traffic erosion—despite Florida's brutal cold snap slashing some full-service traffic 40% last week. Management expressed confidence in Bryant Park litigation via favorable discovery and prolonged possession, urging review of public court docs. Meadowlands casino referendum survey, just started, wraps in 1-1.5 months; exclusive F&B rights intact, but ownership dilution hinges on funding deals. Cold snaps crushed Florida traffic. Answers mostly reaffirmed the quiet quarter's prepared remarks, with weather and legal color as main adds. Investors will watch litigation outcomes and Vegas expansion hints.
Key Stats
Market Cap
23.91MP/E (TTM)
-Basic EPS (TTM)
-3.18Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
Ark Restaurants posted Q1 FY2026 revenues of $40.7M, down 9.4% y/y from $45.0M, yet swung to operating income of $1.1M from $5.7M—boosted last year by a $5.2M Tampa lease gain, offset by El Rio Grande closure loss. Costs fell faster: food costs dropped 11.9% to 26.2% of sales via menu tweaks, payroll 13.4% on tighter shifts. Diluted EPS held at $0.25 on 3,606k shares, matching basic amid anti-dilutive options. Cash dipped to $9.1M with $0.6M operating outflow; total debt shrank to $3.0M under a $20M facility (none drawn), notes at SOFR+3.65% maturing 2026-2028. Condo sale added $0.4M proceeds, $0.1M gain. Bryant Park leases (20% revenue) face eviction risk amid litigation.
8-K
Q1 revenues fall, EBITDA up
Ark Restaurants reported Q1 2026 revenues of $40.7M, down from $45.0M last year due to Tampa Food Court closure and 7.3% same-store sales drop from Bryant Park lease dispute fallout. Adjusted EBITDA rose to $1.5M from $1.4M, with net income at $896K or $0.25/share versus $3.2M prior. Cash stands at $9.1M against $3.0M debt. Litigation clouds Bryant Park's 20% revenue share.
10-K
FY2025 results
Ark Restaurants posted FY2025 revenues of $165.8M, down 9.7% y/y, with same-store food and beverage sales off 4.2%—Florida up 1.6%, but New York down 10.8% from Bryant Park lease drama and D.C. off 14.9% on weak traffic. Operating loss narrowed to $4.1M from $4.3M, thanks to a $5.2M Tampa lease termination gain, though Sequoia impairments doubled to $4.7M and goodwill fully written off at $3.4M. Q4 saw El Rio Grande closure gain refined to $173K but no quarterly breakdowns disclosed. Cash hit $11.3M after dispositions; debt at $3.6M with 8% rates, revolver dry. Dividends halted since Q2. Bryant Park litigation threatens 15% of sales.
8-K
Q4 loss narrows, EBITDA flips negative
Ark Restaurants posted Q4 net loss of $1.9M ($0.53/share), improved from $4.5M ($1.24/share) last year, but swung to negative adjusted EBITDA of $1.1M from $0.5M amid Bryant Park litigation costs over $400k and 10.1% same-store sales drop. Revenues fell to $37.3M from $43.4M, excluding closed sites. Full-year loss widened to $11.5M ($3.18/share) versus $3.9M, hit by $3.4M goodwill impairment and Sequoia impairments; balance sheet holds $11.3M cash against $3.6M debt. Ongoing lease dispute threatens 15% of revenue.
10-Q
Q3 FY2025 results
Ark Restaurants posted Q3 FY2025 revenues of $43.7M, down 13.3% y/y from $50.4M, with food and beverage sales dropping 12.7% y/y amid same-store declines of 7.4% y/y, hit hardest in New York and D.C. due to lease disputes and hybrid work trends, while Florida eked out a 1.8% gain. Operating loss widened to $3.4M from $0.8M income y/y, pressured by $4.7M in Sequoia impairments and higher commodity costs, though a $0.2M gain from El Rio Grande closure offered minor relief; net loss hit $3.2M, with the delta from operating mainly tied to taxes per the filing. YTD, revenues fell 8.4% to $128.4M, operating loss reached $2.3M versus $1.2M income, diluted EPS tumbled to -$2.65 from $0.15 on flat 3,605K shares, and free cash flow stood at $1.1M operating cash minus $1.6M capex. Cash climbed to $12.3M, total debt eased to $3.9M under a $20M facility extended to 2028 with full availability, but Bryant Park leases expired without renewal, sparking litigation. Ongoing lease uncertainties loom large.
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