RICK - RCI Hospitality Holdings (RICK) - Momentum Continues to Build

2Q22 Results. Revenue hit a record $63.7 million, up 3.0% sequentially and up 44.6% y-o-y. Omicron cut quarterly revenue by an estimated $2 million. We had projected $65.3 million of revenue. Net income was $11.0 million, or $1.15 per share, compared to $6.1 million, or $0.68 per share last year. We were at $11.6 million, or $1.22 per share.Club Acquisitions and Growth. RCI just acquired another South Florida club for $16 million, or 4.1x club EBITDA and is under contract to purchase a club in Ft. Worth, TX. In addition, the rebranded Louisiana club was opened in March and the reformatted San Antonio club will open in the third quarter. Read More >>