Rick’s Cabaret International Earnings: Here’s Why Investors are Happy Now
Rick’s Cabaret International Inc. (NASDAQ:RICK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.92%.
Rick’s Cabaret International Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 31.82% to $0.29 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 12.95% to $28.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rick’s Cabaret International Inc. reported adjusted EPS income of $0.29 per share. By that measure, the company beat the mean analyst estimate of $0.26. It missed the average revenue estimate of $29.61 million.
Quoting Management: “Our growth continues as planned, with outstanding performance from our Jaguars acquisition, a terrific rollout of our new restaurant/nightclub concept in Dallas, and excellent progress on the five additional locations currently in the works,” said Eric Langan, president and CEO of Rick’s Cabaret.
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