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GEN Restaurant Group Reports Second Quarter 2026 Financial Results
- GENK
- COST
- UNFI
CPG Momentum Accelerates with Purchase Commitments from More Than 100 Costco Warehouses Nationwide and New Distribution Agreements with United Natural Foods and C&S Wholesale Grocers
Second Quarter Revenue Increased 1.2% Year-Over-Year to $55.7 Million
CERRITOS, CA /ACCESS Newswire/ August 10, 2026 /GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq:GENK), a leader in Korean BBQ both in-restaurant and at home, with 54 GEN Korean BBQ locations and a rapidly growing consumer packaged goods (“CPG”) business, today announced its financial results for the second quarter ended June 30, 2026.
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$ in millions (except per share data) |
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Restaurant-Level Adjusted EBITDA (non-GAAP) |
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Net Loss per Class A Share (Diluted) |
Second Quarter 2026 Financial and Recent Operational Highlights
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Total revenue increased 1.2% to $55.7 million for the second quarter of 2026, as compared to $55.0 million in the second quarter of 2025, which reflects growth in the Company’s CPG division and revenue from restaurants opened in 2025 and 2026, partially offset by a decline in comparable restaurant sales and the loss of revenue from the six restaurants exited during the quarter. Comparable restaurant sales performance was (9.3)% for the second quarter of 2026, as compared to (8.8)% in the first quarter of 2026 and (7.2)% in the second quarter of 2025. Comparable restaurant sales reflect the year-over-year change in sales for restaurants in operation for at least 18 full months prior to the periods presented.
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Announced receipt of a non-binding letter of intent from a nationwide, multi-concept restaurant operator to acquire the Company’s U.S. restaurant operations – with GEN retaining 100% of its rapidly growing consumer packaged goods (“CPG”) and retail business and, if a transaction is consummated on such terms, marking a strategic shift toward a fully CPG-focused company. The Board of Directors is reviewing the proposal, and no assurance can be given that any transaction will result.
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Secured purchase commitments from approximately 60 to 70 Costco Warehouse locations across the Pacific Northwest following the Company’s first Costco roadshow in the region – bringing GEN’s total commitments to more than 100 U.S. Costco Warehouses, or over 16% of Costco’s domestic footprint, with Northwest warehouses expected to begin receiving GEN products in their freezer sections starting in August 2026.
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Secured key distribution agreements for the Company’s CPG product lines with United Natural Foods (UNFI) and C&S Wholesale Grocers, one of the largest grocery distributors and wholesale grocery supply companies in the United States, respectively.
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Secured retail placement at leading grocers nationally, including Save Mart Supermarkets, Smart & Final, Northgate Market and Times Supermarkets – bringing GEN’s door count to nearly 2,000 supermarkets and club stores nationwide.
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Grew CPG division revenue 341% sequentially from the first quarter of 2026, with June representing the division’s largest month to date at more than $2 million of revenue. Based on doors secured to date and the stores currently in its pipeline, GEN estimates a forward 12-month revenue run rate of $35 million to $40 million – with more than 1,000 additional doors already presented to buyers and more than 8,000 further doors in active outreach across grocery and mass retail.
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Cash and cash equivalents were $5.9 million as of June 30, 2026, compared to $2.8 million as of December 31, 2025, with $12.1 million outstanding under the Company’s line of credit, compared to $1.0 million as of December 31, 2025.
