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Is Kura Sushi USA (KRUS) A Buy Ahead of Q3 Earnings Announcement?
Japanese restaurant Kura Sushi USA (KRUS - Free Report) is set to report fiscal third-quarter earnings results on Thursday after the bell. The revolving sushi service model has served the company well this year, with shares surging nearly 95% through the first half of 2023. Is KRUS a buy ahead of the earnings announcement?
Kura Sushi USA, a Zacks Rank #3 (Hold), is expected to post a profit of $0.05/share, which would mirror the results from the same quarter in the prior year. Earnings estimates for the quarter have declined -28.57% in the past 60 days. Revenues are projected to have risen 29.58% to $49.2 million.
KRUS has surpassed earnings estimates in three of the past four quarters, sporting an average earnings beat of 123.58% over that timeframe. The stock has benefitted from recent strength in the restaurant industry. Investors should still proceed with caution heading into the announcement.