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Jun 30, 2020
RCI Hospitality Q3 2020 Earnings Report
Reported third quarter 2020 results with positive operating cash flow despite Covid-19 pandemic.
Key Takeaways
RCI Hospitality Holdings, Inc. reported its third quarter results, which were impacted by the Covid-19 pandemic. All locations were closed in April, with some reopening in May and June, and some having to close temporarily before quarter-end. The company ended the quarter with small but positive operating cash flow.
Company is more confident in managing the pandemic's effect on business after more than five months.
Cost structure has been significantly reduced.
Effective ways have been developed to serve guests and market businesses in the new environment, including safely opening, closing, and reopening locations.
Key personnel have been retained and many team members rehired.
Forward Guidance
The extent and duration of the impact of Covid-19 on the businesses is currently unknown due to the uncertainty about the spread of the virus. Lower sales, as caused by social distancing guidelines, could lead to adverse financial results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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