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ONE Group Hospitality (STKS) guidance and outlook
ONE Group Hospitality (STKS) lowered its guidance on Nov 4, 2026: Revenue +1% for FY2026; Operating expenses +82% for FY2026; Tax rate 10%–20% for FY2026; Capital expenditures $3.4M for FY2026. ONE Group Hospitality's 10-Q filed Nov 4, 2026 makes 16 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | +1% | reaffirmed |
| Operating expenses | FY2026 | +82% | lowered |
| Tax rate | FY2026 | 10%–20% | reaffirmed |
| Capital expenditures | FY2026 | $3.4M | new |
From the earnings release filed Nov 4, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 4, 2026
- As our footprint increases, we expect to benefit by leveraging system-wide operating efficiencies and best practices through the management of our general and administrative expenses as a percentage of overall revenue.
- We intend to open six to eight new venues in 2026.
- We intend to convert up to seven additional Grill Concepts venues into either a Benihana or STK restaurant.
- As part of this initiative, we permanently closed one RA restaurant in January 2026 and temporarily closed three Kona Grill restaurants and two RA restaurants that will be converted into a Benihana or STK restaurant.
- During the fourth quarter of 2026, we permanently closed two Kona Grill restaurants due to lease expiration and temporarily closed three Kona Grill restaurants and one RA restaurant that will be converted into a Benihana or STK restaurant.
- We use Adjusted EBITDA and Restaurant operating profit, alongside other GAAP measures such as net income, to measure profitability, as a key profitability target in our budgets, and to compare our performance against that of peer companies despite possible differences in calculation.
- Subject to our operating performance, which, if significantly adversely affected, would adversely affect the availability of funds, we expect to finance our operations for at least the next 12 months and the foreseeable future, including the costs of opening currently planned new restaurants, through cash provided by operations, construction allowances provided by landlords of certain locations and borrowings…
- We expect to receive between $0.5 million to $0.7 million in landlord contributions in the next three months.
- To help manage future cash requirements, we intend to prioritize capital-efficient growth in 2026, significantly reducing discretionary capital expenditures.
- We plan to convert up to an additional seven Company-owned Grill restaurants to Benihana or STK formats.
- For owned STK restaurants, where we build from a shell state, we have typically targeted a restaurant size of 8,000 square feet with a net cash investment of approximately $450 to $500 per square foot, made up of a gross cash investment of $600 to $650 per square foot and $150 per square foot in landlord contributions.
- For owned Benihana restaurants, where we build from a shell state, we have typically targeted a restaurant size of 6,000 to 7,000 square feet.
ONE Group Hospitality's latest quarter
ONE Group Hospitality, Q3 2026: revenue $177M (-2% year over year), operating margin -3.3%, net loss $16.4M, operating cash flow $8.8M. The chart follows the revenue to costs, profit and cash.
Questions
Did ONE Group Hospitality raise or lower its guidance?
ONE Group Hospitality (STKS) lowered its guidance on Nov 4, 2026: Revenue +1% for FY2026; Operating expenses +82% for FY2026; Tax rate 10%–20% for FY2026; Capital expenditures $3.4M for FY2026.
What does ONE Group Hospitality expect?
As our footprint increases, we expect to benefit by leveraging system-wide operating efficiencies and best practices through the management of our general and administrative expenses as a percentage of overall revenue. We intend to open six to eight new venues in 2026. We intend to convert up to seven additional Grill Concepts venues into either a Benihana or STK restaurant.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.