Kura Sushi USA surges after Q3 results, forecast beat
08/07/2022 13:49
** Kura Sushi USA Inc's KRUS.O shares up 15.5% at $62.50
after restaurant operator's qtrly report tops expectations
** KRUS on track to open at 6-mth high if gains hold
** Q3 sales doubled yr/yr to $38 mln topping Street est. of
$35.5 mln, per Refinitiv IBES data urn:newsml:reuters.com:*:nGNX7Vc0Dl
** Co posts adj profit of 5 cents/sh vs loss of 54 cents/sh
a yr-ago; avg analysts' view was adj loss of 10 cents/sh
** FY 2022 sales forecast of $137-$142 mln above consensus
view of $135.9 mln
** Co, which opened 1 new restaurant in Q3, expects to open
8 new restaurants in fiscal 2022
** All 4 analysts covering stock are bullish; median PT $85
- Refinitiv
** Shares have lost 33% YTD through Thurs close
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))