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Sep 30, 2023
RCI Hospitality Q4 2023 Earnings Report
RCI Hospitality reported soft Q4 2023 results due to the uncertain economy and tough comparisons to the previous year's post-Covid bounce, but the capital allocation strategy continued to produce strong, long-term results.
Key Takeaways
RCI Hospitality Holdings, Inc. reported its Q4 2023 results, showing a revenue increase of 5.4% year-over-year to $75.3 million. EPS was $0.23, impacted by non-cash impairment charges, while non-GAAP EPS was $1.11. The company continued its share repurchase program, buying back shares in 1Q24, and is working on potential acquisitions.
Total revenues increased 5.4% year-over-year for 4Q23.
EPS was $0.23 for 4Q23, while non-GAAP EPS was $1.11.
Nightclubs segment revenues increased to $60.9 million, while Bombshells segment revenues decreased to $13.6 million.
As of December 8, 2023, RCI repurchased 37,954 common shares for $2.1 million in 1Q24.