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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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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