Welcome to our dedicated page for RCI Hospitality Holdings news (Ticker: RICK), a resource for investors and traders seeking the latest updates and insights on RCI Hospitality Holdings stock.
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) announced a 25% increase in its quarterly cash dividend, raising it from $0.04 to $0.05 per share for the second fiscal quarter ending March 31, 2022. This new rate establishes an annualized dividend of $0.20 per share and marks the company's 25th consecutive quarterly cash dividend. The dividend will be payable on March 29, 2022, to shareholders on record as of March 15, 2022, with the ex-dividend date set for March 14, 2022.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced its fiscal 2022 Q1 results, reporting total revenues of $61.8 million, a significant increase from $38.4 million in Q1 2021. Earnings per share (EPS) rose to $1.12, surpassing last year's $1.07. Key highlights include a net income of $10.6 million and adjusted EBITDA of $18.0 million. The company experienced strong performance from its nightclub and Bombshells segments, with recent acquisitions contributing to revenue growth. RCI expects continued progress and strategic acquisitions moving forward.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will file its 10-Q and report Q1 fiscal 2022 results for the period ending December 31, 2021, post-market on February 9, 2022. A conference call is scheduled for the same day at 4:30 PM ET, with a live meeting for investors at Rick's Cabaret New York at 6:00 PM ET. RCI operates more than 50 clubs nationwide, specializing in gentlemen's clubs and sports bars/restaurants, with a focus on adult entertainment and hospitality.
On January 26, 2022, RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the successful closing of an $18.74 million commercial bank real estate loan. With a fixed rate of 5.25% and a term of 10 years, the loan features a 20-year amortization schedule and is secured by 11 properties acquired primarily through cash. CEO Eric Langan expressed satisfaction with the loan, highlighting its role in enhancing working capital under favorable terms.
RCI Hospitality Holdings (Nasdaq: RICK) will present at the Sidoti Virtual Winter Small-Cap Conference on January 19 at 2:30 PM ET. CEO Eric Langan and CFO Bradley Chhay will lead the presentation and participate in one-on-one meetings on January 19-20. Interested parties can register for the virtual event for free, with no requirement to be a Sidoti client. The company operates over 50 venues, including gentlemen's clubs and sports bars, in major cities across the U.S.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported strong sales for the first quarter of fiscal 2022, reaching $61.1 million, a 61.6% increase compared to the same period last year. The Nightclubs segment saw $46.3 million in sales, up 86.6%, while Bombshells restaurants generated $14.8 million, a 13.8% increase. The results benefited from the opening of new locations, including the 11th Bombshells in Arlington, TX. The company expects to report full financial results by February 9. Potential impacts from the Omicron variant were minimally felt during this quarter.
RCI Hospitality Holdings (Nasdaq: RICK) will present virtually at the 24th Annual ICR Conference from January 10-12, 2022. CEO Eric Langan and CFO Bradley Chhay will discuss the company's growth strategy, focusing on the Bombshells Restaurant & Bar concept, which has doubled in size over five years. The presentation is set for January 10 at 4:30 PM ET. Investors can access the webcast and presentation materials online, and are encouraged to schedule one-on-one meetings with management during the event.
RCI Hospitality Holdings reported strong fiscal 2021 results, with total revenues of $195.3 million compared to $132.3 million in FY20. The fourth quarter saw revenues of $54.9 million, up from $28.8 million in 4Q20, and a net income of $2.3 million. The company's non-GAAP EPS was $4.08 versus $0.51 in the previous fiscal year. Operating margins improved significantly, reflecting recovery from COVID-19 impacts, despite facing challenges like inflation and labor issues. RCI plans to expand its club acquisitions and improve customer experience in FY22.
RCI Hospitality Holdings (Nasdaq: RICK) will file its 10-K and report 4Q21 and FY21 financial results on December 14, 2021, after market close. A conference call is scheduled for 4:30 PM ET on the same day, allowing investors to discuss the results with management. Following the call, investors are invited to meet management at Rick's Cabaret New York at 6:00 PM ET. The company operates over 50 gentlemen's clubs and sports bars/restaurants across major U.S. cities, enhancing its position in the adult entertainment industry.
FAQ
What is the current stock price of RCI Hospitality Holdings (RICK)?
What is the market cap of RCI Hospitality Holdings (RICK)?
What types of businesses does RCI Hospitality Holdings operate?
When was RCI Hospitality Holdings founded?
What are the primary revenue sources for RCI's Nightclubs segment?
How does RCI support veterans through its Bombshells segment?
What recent financial performance has RCI reported?
How does RCI Hospitality manage its debt?
What is RCI Hospitality's approach to growth and acquisitions?
What modern payment technologies does RCI Hospitality utilize?
How does RCI Hospitality's Bombshells segment differ from its Nightclubs segment?
What are RCI Hospitality's future plans?
