RICK - RCI Hospitality surges 12% on FQ1 estimates beat

RCI Hospitality Holding’s ([[RICK]] +12.1%) FQ1 saw the best overall company and Nightclubs performance since the pandemic began in March 2020 quarter, as well as continued strong Bombshells results.During 1Q21, 24 clubs were open the full quarter and 26 by period end, and all 10 Bombshells were open the full quarter.SG&A margin was 31.6% vs. 34.2%, due to cost-savings initiatives and lower variable expenses due to lower sales.Bombshells profitability margin increased 570 bps to 20.9%; which reflected higher sales, more consistent traffic while operating in line with indoor restrictions, and greater operating leverage.Nightclubs generated operating margin of 33.7%; the segment's best performance since the 2Q20, when the pandemic was declared March 13, 2020.Cash and equivalents was $17M and debt of $134.8M, reflecting debt extinguishment and regular paydowns.Net cash from operating activities of $6.3M and FCF of $5.7M.“As of today, 31 clubs and all 10 Bombshells are open and we're also

For further details see:

RCI Hospitality surges 12% on FQ1 estimates beat