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SINGAPORE -On Tuesday, Super Hi International Holding Ltd. (NASDAQ:HDL), operator of Haidilao hot pot restaurants in international markets, reported fourth quarter earnings that fell short of analyst expectations.
The company’s shares were down over -5.04% in premarket trading following the release.
The company posted a loss of $0.02 per share for Q4, compared to analyst estimates for a profit. Revenue came in at $208.8 million, up 14% YoY from $183.3 million in the same quarter last year.
Super Hi did not provide specific forward guidance in its earnings release. However, the company highlighted its focus on enhancing local restaurant management to improve guest satisfaction and operational efficiency.
"During the quarter, revenue grew by 12.5% year over year, driven by the ongoing recovery of the macro environment and our local restaurants’ concerted efforts to improve performance," said CEO Yang Lijuan.
Key operational metrics showed improvement, with total table turnover rate increasing to 3.8 times per day, up from 3.3 times in the year-ago period. The company had over 7.2 million total guest visits in Q4, a 14.3% increase from 6.3 million last year. Same-store sales growth was 6.6%.
Super Hi opened 4 new Haidilao restaurants and closed 1 underperforming location during the quarter, bringing its total restaurant count to 122 as of June 30, 2024.
Despite the revenue growth, higher costs weighed on profitability. Staff costs rose 14.8% YoY to $62.7 million, while raw materials and consumables used increased 11.4% to $61.7 million.
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