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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) has announced plans to release its fiscal 2024 third quarter financial results on Thursday, August 8, 2024, after market close. The company will host an exclusive X Spaces conference call to discuss the results, featuring CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal.
Key points:
- 10-Q filing and financial results for the quarter ended June 30, 2024
- X Spaces call link provided (X login required)
- Presentation available on RCI Hospitality website
- Q&A participation requires joining via mobile device
- Listen-only option available on computers
- No alternative telephone or webcast access
RCI Hospitality Holdings (RICK) reported its fiscal third-quarter 2024 sales. Nightclubs saw a 0.7% YoY increase to $62.4 million, driven by a 1.7% same-store sales growth and new club openings. Bombshells experienced an 8.9% YoY decline to $13.1 million due to a 16.2% same-store sales decrease. Total combined sales dipped by 1.1% YoY, totaling $75.5 million. Sequentially, Nightclubs and Bombshells reported sales increases of 5.9% and 2.7%, respectively. RCI also announced a $25 million increase in its share buyback program, the withdrawal of its Colorado casino license applications, and an update on post-Hurricane Beryl operations. CEO Eric Langan emphasized the company's focus on core businesses, cost-cutting, and optimizing locations. RCI opened two new locations in FY24 and is working on five more openings. Full 3Q24 financial results are expected by August 8, 2024.
RCI Hospitality Holdings (Nasdaq: RICK) announced a quarterly cash dividend of $0.06 per common share for the fiscal 2024 third quarter, ending June 30, 2024.
The dividend is payable on June 28, 2024, to shareholders on record as of June 14, 2024, with an ex-dividend date of June 13, 2024.
This marks the company's 34th consecutive quarterly cash dividend, demonstrating consistent returns to shareholders.
RCI Hospitality Holdings (Nasdaq: RICK) has declared its 34th consecutive quarterly cash dividend of $0.06 per common share for the fiscal third quarter of 2024.
The dividend is payable on June 28, 2024, to shareholders on record as of June 14, 2024, with an ex-dividend date also on June 14, 2024.
This consistent dividend payout emphasizes RCI's commitment to returning capital to its shareholders.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported 2Q24 results with total revenues of $72.3 million, a slight increase from last year. GAAP EPS was $0.08 due to non-cash impairment, while non-GAAP EPS was $0.90. The Nightclubs segment saw revenue growth to $59.4 million, and efforts in the Bombshells segment showed improvement. The company focuses on core operations, potential acquisitions, and stock buybacks. Non-GAAP financial measures were used to clarify performance.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will release its fiscal 2024 second-quarter financial results on May 9, 2024. A conference call will be held at 4:30 PM ET, followed by a meet-and-greet event at Rick's Cabaret New York. Investors can join via X Space or webcast to ask questions or listen. Management, including President & CEO Eric Langan and CFO Bradley Chhay, will be present.
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