News

RCI Hospitality (RICK) – Solid 1Q22 Sets the Table for Fiscal 2022

Retail and Consumer
1 min read

Thursday, February 10, 2022

RCI Hospitality (RICK)
Solid 1Q22 Sets the Table for Fiscal 2022

RCI Hospitality Holdings, Inc. through its subsidiaries owns and operates establishments that offer live adult entertainment, restaurant, and/or bar operations. The company also owns and operates a communication company serving the adult nightclubs industry. RCI’s operating business segments includes Nightclubs and Bombshells restaurants and bars. It operates nightclubs through the following brands: Rick’s Cabaret, Vivid Cabaret, Tootsie’s Cabaret, Club Onyx, and Jaguars Club. In the restaurants segment, the company is building a chain of Bombshells Restaurants and Sports Bars in Dallas, Austin, and Houston, Texas.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q22 Results. Revenue came in at $61.8 million, net income at $10.6 million, or $1.12 per share, and adjusted EBITDA at $18 million. In the year ago quarter, RCI reported revenue of $38.4 million, net income of $9.6 million, or $1.07 per share, and adjusted EBITDA of $8.7 million. We had forecast revenue of $61.5 million, net income of $10.3 million, or $1.09 per share, and adjusted EBIDA of $18.3 million.

    Nightclubs.  A combination of the acquired locations and ongoing improvement at existing clubs resulted in revenue of $46.8 million, up 85.7%. The new clubs contributed $6.3 million to the top-line. Ongoing rebound in high margin service revenue resulted in segment operating margin of 40.1%, up from 33.7% last year …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

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