RCI Hospitality Clocks 23.7% Club & Restaurant Sales Growth In Q3

  • RCI Hospitality Holdings Inc RICK reported third-quarter FY22 Nightclubs and Bombshells restaurants sales of $70.1 million (+23.7% Y/Y).
  • Sales do not include non-core operations and are preliminary and subject to final closing.
  • RCI also announced it bought back 168,069 shares in Q3 totaling $9.2 million.
  • Club acquisitions contributed sales of $11.8 million in Q3.
  • Clubs in key markets benefited from customer traffic related to major sporting events and NFT conferences.
  • The company ended the quarter with $37.5 million in cash and equivalents.
  • "We're pleased revenues hit the higher end of our target annual run rate of $260-$280 million," said CEO Eric Langan.
  • Price Action: RICK shares are trading higher by 3.30% at $53.17 on the last check Tuesday.
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