Restaurant operator Ark's Q4 revenue falls
Overview
Restaurant operator's Q4 revenue decreased
Adjusted EBITDA for Q4 turned negative, impacted by Bryant Park litigation costs
Net loss for Q4 narrowed compared to the prior year
Outlook
Company did not provide specific financial guidance for future periods
Result Drivers
LITIGATION COSTS - Ongoing litigation at Bryant Park led to significant expenses, impacting EBITDA negatively
BRYANT PARK REVENUE DECLINE - Decreased catering and a la carte revenue at Bryant Park Grill due to litigation-related publicity
LAS VEGAS PERFORMANCE - Increased cash flow at New York-New York Hotel and Casino despite lower traffic on Las Vegas Strip
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $37.32 mln |
|
Q4 Net Income |
| -$1.90 mln |
|
Q4 Adjusted EBITDA |
| -$1.07 mln |
|
Q4 EBITDA |
| -$823,000 |
|
Press Release: ID:nBw8cMDhha
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
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