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%.

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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.

Key Stats (on next page)…

Revenue increased 5.75% from $27.14 million in the previous quarter. EPS increased 3.57% from $0.28 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0 to a profit $0.33. For the current year, the average estimate has moved down from a profit of $1.5 to a profit of $1.2 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)