RCI Reports 1Q23 Results: Total Revenues $70.0M, GAAP EPS $1.11, Non-GAAP EPS $1.19

About this update from Rci Hospitality Holdings, Inc.

[{"type":"text","content":"Twitter Spaces Conference Call at 4:30 PM ET Today; Meet Management at 7 PM ET Tonight\nHOUSTON, Feb. 9, 2023 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results and filed its Form 10-Q for the fiscal 2023 first quarter ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nSummary Financials\n 1Q23 \nChange YoY\nTotal Revenues\n $70.0M \n+13.2 %\nEPS\n$1.11\n-0.9 %\nNon-GAAP EPS*\n$1.19\n+8.2 %\nNet Cash from Operating Activities\n $14.9M \n-8.4 %\nFree Cash Flow*\n $13.0M \n-14.6 %\nNet Income Attributable to RCIHH Common Stockholders\n $10.2M \n-3.2 %\nAdjusted EBITDA*\n $20.5M \n+13.9 %\nWeighted Average Number of Basic & Diluted Shares Outstanding\n 9.2M \n-1.9 %\n* See \"Non-GAAP Financial Measures\" below.\nEric Langan, President and CEO of RCI Hospitality Holdings, Inc., said: \"1Q23 results were generally in line with our expectations as we launched our big, three-year growth plan for fiscal 23-25. Thanks to our loyal and dedicated teams for all their hard work and effort.\"\n\"During 1Q23, a 21.4% year-over-year increase in Nightclubs operating income more than offset challenging comparisons in Bombshells. GAAP EPS and net cash from operating activities, and non-GAAP EPS and free cash flow, were affected by higher than anticipated repairs and maintenance capital expenditures that happened to occur during the quarter. Nonetheless, adjusted EBITDA increased 13.9% year-over-year, and we ended 1Q23 with $34.1 million in cash.\"\n\"To continue with our mission of growing free cash flow and adjusted EBITDA in the years ahead, we now have numerous acquisitions and projects in development. These include our pending acquisition of the five Baby Dolls and Chicas Locas adult nightclubs in Dallas, Fort Worth and Houston; our exciting new Rick's Cabaret Steakhouse & Casino in Central City, CO; and new Bombshells in Alabama, Colorado, and Texas.\"\nConference Call at 4:30 PM ET Today\nParticipants need to use Twitter Spaces on their mobile phones to ask questions during the Q&A\nTwitter Spaces\nTelephone\nWebcast, Slides & Replay\nhttps://twitter.com/i/spaces/1lDxLnmRpnRGmHosted by: @RicksCEO, @BradleyChhay, and @itsmarkmoranToll Free 888-506-0062International: 973-528-0011Passcode: 677580https://www.webcaster4.com/Webcast/Page/2209/47578Meet Management at 7:00 PM ET Tonight\nInvestors are invited to Mee...

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