RCI reports 3Q24: nightclub sales up 0.7%, Bombshells down 8.9%; buyback increased $25M

RCI HOSPITALITY HOLDINGS, INC.

2024-Q3 EPS reported $0.30 vs consensus $0.38 ▼ miss (-20.5%)

Nightclubs sales $62.4M (+0.7% YoY); same-store sales +1.7%, first quarterly increase since 2Q23.
Bombshells sales $13.1M (-8.9% YoY); same-store sales -16.2%, but total sales up 2.7% sequentially.
Board authorized $25.0M increase in share repurchase program; full Q3 results expected by Aug 8.
Withdrew Colorado casino license applications; will open Rick's Cabaret & Steakhouse without gambling.
Hurricane Beryl: most Houston-area clubs/restaurants reopened; a few await power restoration; minor damage.

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