RICK - RCI Hospitality Holdings (RICK) - Keeping on Truckin'

3Q22 Sales. RCI Hospitality reported 3Q22 sales of $70.1 million, up 23.7% year-over-year. This was the first full quarter since pre-COVID without any meaningful COVID impact. We had projected overall revenue of $72 million for the quarter, so once Other revenue is added to the Sales revenue, full quarter revenue should be in-line with our estimate.Details. Driven by the acquired nightclubs as well as the return to normalcy, Nightclub sales were up 33.8% y-o-y to $54.3 million, with SSS up 4.8%. Bombshells sales came in at $15.8 million, down 1.9% compared to the abnormally strong 3Q21 when Bombshells was one of the few Texas operators open for business. SSS fell 12.3%. Read More >>