NASDAQ:ARKR Ark Restaurants Q1 2025 Earnings Report $9.39 -0.51 (-5.15%) Closing price 05/2/2025 03:59 PM EasternExtended Trading$9.75 +0.36 (+3.83%) As of 05/2/2025 06:22 PM Eastern Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more. Earnings History Ark Restaurants EPS ResultsActual EPS$0.18Consensus EPS N/ABeat/MissN/AOne Year Ago EPSN/AArk Restaurants Revenue ResultsActual RevenueN/AExpected RevenueN/ABeat/MissN/AYoY Revenue GrowthN/AArk Restaurants Announcement DetailsQuarterQ1 2025Date2/10/2025TimeAfter Market ClosesConference Call DateTuesday, February 11, 2025Conference Call Time11:00AM ETUpcoming EarningsArk Restaurants' Q2 2025 earnings is scheduled for Monday, May 12, 2025, with a conference call scheduled on Tuesday, May 13, 2025 at 11:00 AM ET. Check back for transcripts, audio, and key financial metrics as they become available.Conference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Quarterly Report (10-Q)Earnings HistoryCompany ProfilePowered by Ark Restaurants Q1 2025 Earnings Call TranscriptProvided by QuartrFebruary 11, 2025 ShareLink copied to clipboard.PresentationSkip to Participants Operator00:00:00have your name, please? And your company? Operator00:00:11And which conference you're looking for? Okay. I'll bring you right there. Hold on. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:00:24Helpful in increasing demand, so we'll wait and see on that. All in all, we're just margins have been squeezed. We're trying to pick the margins up by being more efficient in payroll, hopefully driving some more revenue. The easy one to talk about of the two elephants in the room, Meadowlands and Bryant Park. Meadowlands, again, we think we're the most likely site for gaining a casino license in the North Of New Jersey, but New Jersey will not move until New York State starts to issue licenses for downstate casinos, meaning Manhattan or Queens or The Bronx. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:01:172 of those licenses, if there we suspect will be issued to Aqueduct and to Yonkers. We believe that once they're issued, it will take a matter of months for those to become fully operational casinos because the facilities are already built. For the third license and there are several developers vying for those, that will take some time. But we think the implementation of casino licenses at Yonkers and Aqueduct will force Jersey to make a decision that they have to do something in the North Atlantic City has been dying for years. And I think this would really be a death knell and Jersey will wake up and issue a license in the North. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:02:13We suspect that New York State will issue licenses sometime later this year. So we also expect that that will generate a referendum to allow that it's a referendum voted on by the public to allow for casino gaming in the North. So that's the mail winners. Bryant Park, if we follow the headlines, the Bryant Park Corporation has said they want to go forward with somebody other than us. That deal has not been signed yet. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:02:58It requires a positive okay from the POTS department in New York Public Library. We've Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:08hired Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:08a whole team of experts and we feel that we have a decent chance of retaining the operation of that facility. It will take months to know, but we really believe we're still in the game. We think the whole request for proposal process was flawed. And the thing that we don't understand is that the new license to operate would be issued to a company that has limited hospitality experience. We've been hugely successful and their minimum rent proposal is $1,000,000,000 less than us. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:54So, it just doesn't sound like it's a logical business arrangement and we're looking into it. And hopefully, we will see something that starts to move us back into our direction. So, with that, any questions, I'm happy to answer. Operator00:04:14Thank you. We will now be conducting a question and answer session. Thank you. Our first question comes from the line of Jeffrey Kaminski with JJK Consulting. Please proceed with your question. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:04:51Good morning, everyone. This is hi, Anthony. With respect to Bryant Park and the process, I guess you folks found out about the lease and the other party through, if I'm reading the hearings properly, through some sort of public hearing or public meeting. So my question is, are they more of these scheduled and can the public actually attend? And then as a shareholder, I have a vested interest in what happens to client park as do other shareholders of work. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:05:27What's preventing us as a member of the public and a New York resident from attending such a year? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:05:35There's nothing preventing you to go to public sessions. The community board session is a public session. The announcement of his of the Bryan Park Corporation's election was made at a subcommittee of the Community Board meeting, it's this Parks and Recreation Subcommittee at the Community Board and it was a public forum. There was a lot of robust conversation about it regarding the process and regarding the affordability of the selection of the new restaurant tour, we're reasonably priced. We don't think the selection of Seacort Entertainment Group and their licensing agreement, proposed licensing agreement with John George speaks well of affordability to the public. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:06:46So there was a large discussion about that. But the Community Board's advisory position in this, The sign off they need to get a deal done with any operator has to come from the City of Commerce Department and from the Public Library. And they have not even proposed a change in operators to either one of those two organizations. Go ahead. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:07:22Our comments from the public, welcome at at the at the end of the week. I'm sorry. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:07:33I I said We had we Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:07:35had we had 25 employees at the community board meeting. We have 250 employees at the Bryant Park Corporation who are in danger of losing their jobs. Literally, 40% of those employees have been with us for twenty five years or more. So that constituency is also important in this process. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:08:02Right. And were any of them able to speak at the meeting and if I attended the next meeting as a shareholder, would I have an opportunity to make a statement or Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:12You would have a minute to two minutes to speak. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:08:15Okay. Thank you. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:17You're welcome. Operator00:08:27Our next question comes from the line of Ravi Desai, a private investor. Please proceed with your question. Analyst00:08:34Hey, Michael. How are you? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:36Good, Ravi. Thank you. Analyst00:08:38I had a question. Moving forward as you guys think down the road, six months, twelve months, just wanted to get a sense of how you guys are thinking about the capital allocation on dividends or buybacks or if you guys have any other ideas outside of the strategic acquisitions that you're looking for down south? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:58So Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:09:02that's a complicated question because it really depends upon the outcome of Bryant Park, certainly with regard to dividends. The right now without the cash flow that would be attending to operation at Bryant Park, we would not see a payer of dividends. That also is a question regarding buybacks. I think that same thought process is applicable. I don't think we're going to be aggressively buying stock unless we know what's going on with Brian Park number one, as a company. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:09:56There may be people we're aligned with, who may want to take an interest in the stock. But without Brian Park, it's very hard to make these decisions. In terms of expanding the business, we have some nice opportunities we think that don't require tremendous amount of capital or where we would have partnerships with other organizations that see us as an important part of the process to establish some new operations. So, we're looking at that. It's sort of paralyzing in one respect for our balance sheet and income statement to have this issue with Ryan Park. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:10:49But on the other hand, we're actively engaged and trying to find areas where we can expand sensibly. Hope that answers your question. Analyst00:11:00Yes, that's helpful there. So we'll see how the Bryant Park shakes out and good luck with that. I think it I hope it holds in your guys' favor. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:11:10Thank you. Operator00:11:28It appears we have no further questions at this time. I'd like to turn the floor back over to you for closing comments. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:11:35All right. Thank you all for your interest and we'll see you next quarter. Anthony SiricaCFO, President,Treasurer & Director at Ark Restaurants00:11:39Thank you. Bye bye. Operator00:11:41Ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation and have a wonderful day.Read moreParticipantsExecutivesMichael WeinsteinFounder, Chairman & CEOAnthony SiricaCFO, President,Treasurer & DirectorAnalystsJeffrey KaminskyInvestment Advisory at JJK Research AssociatesAnalystPowered by Conference Call Audio Live Call not available Earnings Conference CallArk Restaurants Q1 202500:00 / 00:00Speed:1x1.25x1.5x2xTranscript SectionsPresentationParticipants Earnings DocumentsPress Release(8-K)Quarterly report(10-Q) Ark Restaurants Earnings HeadlinesArk Restaurants Corp. (NASDAQ:ARKR) Sees Significant Decrease in Short InterestApril 30 at 2:55 AM | americanbankingnews.comArk Restaurants (NASDAQ:ARKR) Coverage Initiated by Analysts at StockNews.comApril 29, 2025 | americanbankingnews.comHere’s How to Claim Your Stake in Elon’s Private Company, xAII predict this single breakthrough could make Elon the world’s first trillionaire — and mint more new millionaires than any tech advance in history. And for a limited time, you have the chance to claim a stake in this project, even though it’s housed inside Elon’s private company, xAI.May 3, 2025 | Brownstone Research (Ad)Earnings call transcript: Ark Restaurants Q1 2025 faces lease uncertaintyFebruary 12, 2025 | msn.comArk Restaurants outlines cost efficiency improvements and casino license opportunities in Q1 2025February 12, 2025 | msn.comArk Restaurants Corp. (ARKR) Q1 2025 Earnings Call TranscriptFebruary 11, 2025 | seekingalpha.comSee More Ark Restaurants Headlines Get Earnings Announcements in your inboxWant to stay updated on the latest earnings announcements and upcoming reports for companies like Ark Restaurants? Sign up for Earnings360's daily newsletter to receive timely earnings updates on Ark Restaurants and other key companies, straight to your email. Email Address About Ark RestaurantsArk Restaurants (NASDAQ:ARKR), through its subsidiaries, owns and operates restaurants and bars in the United States. It operates restaurants in New York City; Washington, D.C.; Las Vegas, Nevada; Atlantic City, New Jersey; Florida; and Alabama, as well as fast food concepts and catering operations. 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PresentationSkip to Participants Operator00:00:00have your name, please? And your company? Operator00:00:11And which conference you're looking for? Okay. I'll bring you right there. Hold on. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:00:24Helpful in increasing demand, so we'll wait and see on that. All in all, we're just margins have been squeezed. We're trying to pick the margins up by being more efficient in payroll, hopefully driving some more revenue. The easy one to talk about of the two elephants in the room, Meadowlands and Bryant Park. Meadowlands, again, we think we're the most likely site for gaining a casino license in the North Of New Jersey, but New Jersey will not move until New York State starts to issue licenses for downstate casinos, meaning Manhattan or Queens or The Bronx. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:01:172 of those licenses, if there we suspect will be issued to Aqueduct and to Yonkers. We believe that once they're issued, it will take a matter of months for those to become fully operational casinos because the facilities are already built. For the third license and there are several developers vying for those, that will take some time. But we think the implementation of casino licenses at Yonkers and Aqueduct will force Jersey to make a decision that they have to do something in the North Atlantic City has been dying for years. And I think this would really be a death knell and Jersey will wake up and issue a license in the North. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:02:13We suspect that New York State will issue licenses sometime later this year. So we also expect that that will generate a referendum to allow that it's a referendum voted on by the public to allow for casino gaming in the North. So that's the mail winners. Bryant Park, if we follow the headlines, the Bryant Park Corporation has said they want to go forward with somebody other than us. That deal has not been signed yet. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:02:58It requires a positive okay from the POTS department in New York Public Library. We've Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:08hired Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:08a whole team of experts and we feel that we have a decent chance of retaining the operation of that facility. It will take months to know, but we really believe we're still in the game. We think the whole request for proposal process was flawed. And the thing that we don't understand is that the new license to operate would be issued to a company that has limited hospitality experience. We've been hugely successful and their minimum rent proposal is $1,000,000,000 less than us. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:03:54So, it just doesn't sound like it's a logical business arrangement and we're looking into it. And hopefully, we will see something that starts to move us back into our direction. So, with that, any questions, I'm happy to answer. Operator00:04:14Thank you. We will now be conducting a question and answer session. Thank you. Our first question comes from the line of Jeffrey Kaminski with JJK Consulting. Please proceed with your question. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:04:51Good morning, everyone. This is hi, Anthony. With respect to Bryant Park and the process, I guess you folks found out about the lease and the other party through, if I'm reading the hearings properly, through some sort of public hearing or public meeting. So my question is, are they more of these scheduled and can the public actually attend? And then as a shareholder, I have a vested interest in what happens to client park as do other shareholders of work. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:05:27What's preventing us as a member of the public and a New York resident from attending such a year? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:05:35There's nothing preventing you to go to public sessions. The community board session is a public session. The announcement of his of the Bryan Park Corporation's election was made at a subcommittee of the Community Board meeting, it's this Parks and Recreation Subcommittee at the Community Board and it was a public forum. There was a lot of robust conversation about it regarding the process and regarding the affordability of the selection of the new restaurant tour, we're reasonably priced. We don't think the selection of Seacort Entertainment Group and their licensing agreement, proposed licensing agreement with John George speaks well of affordability to the public. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:06:46So there was a large discussion about that. But the Community Board's advisory position in this, The sign off they need to get a deal done with any operator has to come from the City of Commerce Department and from the Public Library. And they have not even proposed a change in operators to either one of those two organizations. Go ahead. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:07:22Our comments from the public, welcome at at the at the end of the week. I'm sorry. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:07:33I I said We had we Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:07:35had we had 25 employees at the community board meeting. We have 250 employees at the Bryant Park Corporation who are in danger of losing their jobs. Literally, 40% of those employees have been with us for twenty five years or more. So that constituency is also important in this process. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:08:02Right. And were any of them able to speak at the meeting and if I attended the next meeting as a shareholder, would I have an opportunity to make a statement or Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:12You would have a minute to two minutes to speak. Jeffrey KaminskyInvestment Advisory at JJK Research Associates00:08:15Okay. Thank you. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:17You're welcome. Operator00:08:27Our next question comes from the line of Ravi Desai, a private investor. Please proceed with your question. Analyst00:08:34Hey, Michael. How are you? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:36Good, Ravi. Thank you. Analyst00:08:38I had a question. Moving forward as you guys think down the road, six months, twelve months, just wanted to get a sense of how you guys are thinking about the capital allocation on dividends or buybacks or if you guys have any other ideas outside of the strategic acquisitions that you're looking for down south? Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:08:58So Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:09:02that's a complicated question because it really depends upon the outcome of Bryant Park, certainly with regard to dividends. The right now without the cash flow that would be attending to operation at Bryant Park, we would not see a payer of dividends. That also is a question regarding buybacks. I think that same thought process is applicable. I don't think we're going to be aggressively buying stock unless we know what's going on with Brian Park number one, as a company. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:09:56There may be people we're aligned with, who may want to take an interest in the stock. But without Brian Park, it's very hard to make these decisions. In terms of expanding the business, we have some nice opportunities we think that don't require tremendous amount of capital or where we would have partnerships with other organizations that see us as an important part of the process to establish some new operations. So, we're looking at that. It's sort of paralyzing in one respect for our balance sheet and income statement to have this issue with Ryan Park. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:10:49But on the other hand, we're actively engaged and trying to find areas where we can expand sensibly. Hope that answers your question. Analyst00:11:00Yes, that's helpful there. So we'll see how the Bryant Park shakes out and good luck with that. I think it I hope it holds in your guys' favor. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:11:10Thank you. Operator00:11:28It appears we have no further questions at this time. I'd like to turn the floor back over to you for closing comments. Michael WeinsteinFounder, Chairman & CEO at Ark Restaurants00:11:35All right. Thank you all for your interest and we'll see you next quarter. Anthony SiricaCFO, President,Treasurer & Director at Ark Restaurants00:11:39Thank you. Bye bye. Operator00:11:41Ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation and have a wonderful day.Read moreParticipantsExecutivesMichael WeinsteinFounder, Chairman & CEOAnthony SiricaCFO, President,Treasurer & DirectorAnalystsJeffrey KaminskyInvestment Advisory at JJK Research AssociatesAnalystPowered by