The ONE Group Hospitality, Inc. (NASDAQ:STKS) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Tyler Loy - Chief Financial Officer

Emanuel Hilario - President and Chief Executive Officer

Conference Call Participants

Tyler Prause - Stephens Inc.

Nick Setyan - Wedbush Securities Inc.

Mark Smith - Lake Street Capital Markets LLC

Roger Lipton - Lipton Financial Services Inc.

Jake Patterson - Talanta Investment Group Inc.

Operator

Greetings, and welcome to The ONE Group First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] Please also note this event is being recorded.

And now, I would like to turn the conference over to Tyler Loy.

Tyler Loy

Thank you, operator, and hello, everyone. Before we begin our formal remarks, let me remind you that part of our discussion today will include forward-looking statements. These forward-looking statements are not guarantees of future performance and you should not place undue reliance on them. These statements are also subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Please also note that these forward-looking statements reflect our opinion only as of the date of this call. We undertake no obligation to revise or publicly release any revisions of these forward-looking statements in light of new information or future events. We refer you to our recent SEC filings for a more detailed discussion of the risks that could impact our future operating results and financial conditions.

During today’s call, we will discuss certain non-GAAP financial measures which we believe can be useful in evaluating our performance. However, the presentation of these measures or other information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. The reconciliations of these measures, such as adjusted EBITDA, adjusted net income, restaurant operating profit, comparable sales and total food and beverage sales at owned and managed and licensed units to GAAP measures, along with a discussion of why we consider these measures useful, please see our earnings release issued today.

With that, I’d like to turn the call over to Manny Hilario.

Emanuel Hilario

Thank you, Tyler, and hello, everyone. We sincerely appreciate you joining us today and for your interest in The ONE group. Let me begin by thanking all of our team members for their hard work, providing world-class operations as we build a strong portfolio of restaurants with industry-leading return on invested capital.