RCI Hospitality Q2 revenue, profit rise on nightclubs expansion
RCI Hospitality Q2 revenue, profit rise on nightclubs expansion
Overview
US adult nightclub and sports bar operator's fiscal Q2 revenue rose 4% yr/yr
Adjusted EPS for fiscal Q2 rose to $0.78 from $0.65 last year
Company continued share buybacks, reducing shares outstanding by 12.6% yr/yr
Outlook
Company did not provide specific guidance for current or future quarters
Result Drivers
NIGHTCLUBS EXPANSION - Revenue growth driven by five newly acquired, opened, or reformatted clubs, which contributed $4.8 mln in sales
IMPAIRMENTS - Higher non-cash impairments and other charges weighed on net income and GAAP EPS
WEATHER IMPACT - Freezing weather in late January-early February led to temporary club closures, mostly on weekends, affecting sales
Company press release: ID:nBw1nWp6Ga
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS |
| $0.78 |
|
Q2 EPS |
| -$0.04 |
|
Q2 Net Income |
| -$326,000 |
|
Q2 Income from operations |
| $3.81 mln |
|
Q2 Pretax Profit |
| -$617,000 |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on RCI Hospitality Holdings
See all newsRCI Hospitality Q2 revenue, profit rise on nightclubs expansion
Brief: RCI Hospitality Q2 Adjusted EPS USD 0.78
Brief: RCI Hospitality Holdings Enters One-Year Employment Agreement With Interim CFO Albert Molina - SEC Filing
Brief: RCI Increases Quarterly Cash Dividend By 14.3%
Brief: RCI Receives Anticipated Nasdaq Letter