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RCI Hospitality Holdings, Inc. (Nasdaq: RICK) is a leading operator of upscale gentlemen's clubs and restaurants, renowned for providing high-quality adult entertainment and dining experiences. Founded in 1983 and formerly known as Rick's Cabaret International, Inc., the company went public in 1995 and has since expanded significantly, boasting more than 60 locations across the United States. Its core business segments include Nightclubs, Bombshells, and others, with a diversified portfolio of brands such as Rick's Cabaret, Vivid Cabaret, Tootsie's Cabaret, Club Onyx, and Jaguars Club.
The company's Nightclubs segment is the primary revenue driver, offering live adult entertainment, alcoholic beverages, food, and merchandise sales. This segment generates additional income through cover charges, dance fees, and room rentals. The Bombshells segment focuses on developing a chain of military-themed sports bars and restaurants in Texas, noted for their lively atmosphere, large screens, and extensive food and drink menus.
RCI Hospitality is known for its strong financial health, characterized by consistent profitability, robust cash flow, and effective internal controls. The company's strategic roll-up approach has enabled it to consolidate the adult nightclub industry, acquiring new clubs and expanding its footprint. One recent development includes the modification of $15.7 million in debt, extending maturities to free up cash for share buybacks, demonstrating savvy capital management.
Notable recent achievements include RCI's provision of free entrees for veterans at its Bombshells locations on Veterans Day, reflecting its community support ethos. Financially, the company reported solid performance with total annual revenues increasing by 9.8% for FY23, despite challenges posed by the broader economy. Additionally, RCI continues to innovate by accepting Bitcoin at its Miami-based clubs, indicating its adaptability to modern payment technologies.
As of early 2024, RCI reported sales of $73.3 million for its Nightclubs and Bombshells restaurants, driven by acquisitions and new locations. The company continues to pursue growth through strategic acquisitions, opening new venues, and enhancing existing ones. With a committed leadership team, RCI is well-positioned to navigate economic uncertainties and capitalize on future opportunities.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported a 9.5% increase in total club and restaurant sales to $43.5 million for 2Q21, compared to $39.8 million in 2Q20. Same-store sales grew by 26.3% to $16.9 million, driven mainly by the reopening of locations and increased customer traffic. Bombshells restaurants saw significant growth, with total sales increasing 49.5% to $13.2 million. CEO Eric Langan highlighted a strong cash position of approximately $20 million and ongoing expansion plans, including new Bombshells locations in Texas.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) declared a quarterly cash dividend of $0.04 per common share for the second quarter of Fiscal 2021, ending March 31, 2021. The dividend is payable on March 26, 2021, to shareholders recorded as of March 12, 2021, with an ex-dividend date of March 11, 2021. This dividend marks the company's 21st consecutive quarterly cash dividend, maintaining the same amount as the previous quarter's dividend.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported its fiscal 2021 Q1 results, revealing a GAAP EPS of $1.07 and non-GAAP EPS of $0.39. The results include a $4.9 million pre-tax gain from debt extinguishment. Total revenues reached $38.4 million, a 33% increase from Q4 2020, and 79% of Q1 2020 revenues. Nightclubs generated $25.2 million with a 33.7% operating margin, while Bombshells reported $13.0 million with a 20.9% margin. As of December 31, 2020, cash and cash equivalents stood at $17.0 million. The company remains optimistic about reopening clubs and potential acquisitions.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) is set to file its 10-Q report detailing financial results for the first quarter of fiscal 2021, ending on December 31, 2020. The filing will occur after market close on February 9, 2021, accompanied by a conference call at 4:30 PM ET. With over 40 units, RCI is a leader in gentlemen's clubs and sports bars, operating under various brand names across multiple major cities. This filing will provide investors with insights into the company's financial performance amid ongoing challenges, including the impact of the COVID-19 pandemic.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported its first-quarter fiscal 2021 results, showcasing a rebound from pandemic-related closures. Total club and restaurant sales reached $37.8 million, down 20.9% from $47.8 million in the previous year. Nightclub sales significantly declined by 33.7%, totaling $24.8 million, while Bombshells restaurants saw a positive growth of 25.4%, reaching $13.0 million. Despite operating restrictions, CEO Eric Langan expressed optimism about future sales and the opening of more locations as vaccine distribution progresses.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has signed its first Franchise Development Agreement for Bombshells Restaurant & Bar, planning to open three locations in San Antonio, TX over five years, with options for three more in nearby cities. The franchise is backed by experienced Houston investors in retail and hospitality. With this agreement, Bombshells will expand into the four largest Texas cities, complementing its existing ten locations. The brand targets a family-friendly demographic and aims to significantly grow its franchise presence in Texas.
RCI Hospitality Holdings (RICK) reported Q4 2020 revenues of $28.8 million, a 96% increase from Q3 2020, though down from Q4 2019 due to COVID-19 impacts. The Bombshells segment achieved record revenues of $15.5 million and an operating margin of 32.7%. Nightclubs revenues reached $13.1 million, up 118% from Q3 2020. Free cash flow was $3.4 million, while GAAP EPS showed a loss of ($0.31). The company ended the quarter with $15.6 million in cash and cash equivalents and plans to pursue club acquisitions.
RCI Hospitality Holdings has declared a quarterly cash dividend of $0.04 per common share for the first fiscal quarter ending December 31, 2020. This dividend, payable on December 30, 2020, to shareholders of record on December 15, 2020, marks the company's 20th consecutive quarterly cash dividend, consistent with the previous quarter's amount. The ex-dividend date is set for December 14, 2020.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported a strong October with sales of $15.3 million, a 34% increase from September and just 3% shy of last year’s figures. Currently, the company has $18 million in cash. It plans to double its Bombshells Restaurant & Bar locations, aiming for ten new units in three years, capitalizing on favorable market conditions. Despite some clubs facing temporary closures due to COVID-19 restrictions, November revenue is projected between $11 million and $12 million.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will present at the Sidoti Virtual Investor Conference on November 19, 2020, at 12:15 PM ET. CEO Eric Langan will lead the presentation, with Bradley Chhay, CFO, and Ryan Parker, Director of Financial Planning and Analysis, participating in the Q&A session. Investors can schedule virtual 1x1 meetings with management. The presentation aims to provide insights into RCI's business growth within the gentlemen's clubs and sports bars sector.
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