Quarterly ResultMay 12, 2026, 04:15 PM
Ark Restaurants Q2 Net Loss Narrows to $(1.81)M; Revenue Down
AI Summary
Ark Restaurants Corp. reported a net loss attributable to shareholders of $(1.81) million, or $(0.50) per share, for the 13 weeks ended March 28, 2026, a significant improvement from the $(9.26) million loss in the prior year. Total revenues decreased to $36.58 million from $39.73 million year-over-year. The company also extended several restaurant leases in Las Vegas, invested in refreshes, and sold a condominium unit for a $135,000 gain, while a New Jersey Senate committee proposed a constitutional amendment for casino gambling at Meadowlands Racetrack.
Key Highlights
- Net loss attributable to Ark Restaurants Corp. for 13 weeks narrowed to $(1.81)M from $(9.26)M YoY.
- Basic EPS for 13 weeks improved to $(0.50) from $(2.57) YoY.
- Total revenues for 13 weeks decreased to $36.58M from $39.73M YoY.
- Operating loss for 13 weeks improved to $(1.66)M from $(4.62)M YoY.
- Net cash used in operating activities for 26 weeks was $(1.52)M, up from $(0.73)M YoY.
- America at NY-NY lease extended to 2033; $3.2M spent on $4M refresh.
- Sold one condominium unit for $381K net proceeds, recording a $135K gain.
- NJ Senate committee proposed casino gambling amendment for Meadowlands Racetrack.
Price Impact
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