RCI Reports 3Q22 Club & Restaurant Sales and Share Buybacks

About this update from Rci Hospitality Holdings, Inc.

[{"type":"text","content":"Twitter Spaces Conference Call Today at 10:30 AM ET\nHOUSTON, July 12, 2022 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported sales for its Nightclubs and Bombshells restaurants of $70.1 million for the fiscal third quarter ended June 30, 2022. Sales do not include non-core operations and are preliminary and subject to final closing. Full 3Q22 financial results are expected by August 9. RCI also announced it bought back 168,069 shares in 3Q22 totaling $9.2 million.\n\n \n \n \n \n \n \n\n \nEric Langan, President and CEO of RCI Hospitality Holdings, Inc., EVP Travis Reese, and CFO Bradley Chhay will participate in a Twitter Spaces conference call regarding today's news at 10:30 AM ET. The Twitter Spaces call will be hosted by Mr. Langan; co-hosted by WOLF Financial and Mark Moran of Litquidity; and accessible at https://twitter.com/i/spaces/1lDGLLLYMQwGm. A replay will be available immediately thereafter.\n\"We're pleased revenues hit the higher end of our target annual run rate of $260-$280 million,\" Mr. Langan said. \"The third quarter was the first period since 1Q20 not affected by COVID. It also benefitted from the full integration of our 1Q22 club acquisitions. Bombshells faced comparisons to an unusually strong year-ago quarter, when it was one of the few bar and restaurant chains open in Texas, with little competition due to the state of COVID at the time. Otherwise, Bombshells saw typical seasonal trends. Armed with high cash balances from strong sales, we took advantage of market conditions to repurchase 1.78% of shares outstanding since March 31, 2022, and we ended the quarter with $37.5 million cash and cash equivalents.\"\nClub & Restaurant Sales ($ in Millions)3Q22 Total Sales\nTotal Sales vs. 3Q21\nSame-Store Sales vs. 3Q21\nCombined\n$70.1\n+23.7 %\n-0.1 %\nNightclubs\n$54.3\n+33.8 %\n+4.8 %\nBombshells\n$15.8\n-1.9 %\n-12.3 %\n \n9M22 Total Sales\nTotal Sales vs. 9M21\nSame-Store Sales vs. 9M21\nCombined\n$194.3\n+40.7 %\n+8.4 %\nNightclubs\n$148.4\n+54.9 %\n+13.2 %\nBombshells\n$45.9\n+8.7 %\n-1.6 %\nShare Buybacks3Q22\n9M22\nFY16-9M22\nRepurchased Shares\n168,069\n213,712\n1,769,279\nTotal Cash Used for Repurchase ($M)\n$9.2\n$12.1\n$34.6\nAverage Price Per Share\n$54.81\n$56.42\n$19.58\nNotesClub acquisitions contributed sales of $11.8 million in 3Q22 and $27.0 million in 9M22. 11 clubs w...

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