RUTH - Ruth's Hospitality Non-GAAP EPS of $0.38 beats by $0.05 revenue of $138.3M in-line
- Ruth's Hospitality press release ( NASDAQ: RUTH ): Q4 Non-GAAP EPS of $0.38 beats by $0.05 .
- Revenue of $138.3M (+9.6% Y/Y) in-line.
- Total restaurant sales in the fourth quarter increased 9.6% compared to 2021 driven by comparable sales growth of 4.5% and incremental sales from six new restaurants that opened over the last 12 months. Comparable sales increased 5.5% compared to 2019.
- Fourth quarter average weekly sales for Company-owned restaurants were $130.0 thousand in 2022 compared to $123.0 thousand in 2021.
- Franchise income in the fourth quarter of 2022 was $5.8 million compared to $5.5 million in the fourth quarter of 2021. Fourth quarter 2022 comparable restaurant sales at franchisee-owned restaurants increased 2.8% compared to 2021.
- Fiscal year 2023 marketing expense is expected to be between $15 and $17 million
- Fiscal year 2023 general and administrative expenses are expected to be between $39 and $42 million
- Fiscal year 2023 income tax rate is expected to be between 17% and 19%
- Fiscal year 2023 capital expenditures are expected to be between $45 to $50 million
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Ruth's Hospitality Non-GAAP EPS of $0.38 beats by $0.05, revenue of $138.3M in-line