Ruth's Hospitality Q2 Earnings Smashes Estimates

  • Ruth's Hospitality Group Inc RUTH reported second-quarter FY21 revenue growth of 290% year-on-year, to $110.9 million, beating the analyst consensus of $106.68 million.
  • Comparable Restaurant Sales jumped 286.6% versus last year and 5.0% versus 2019.
  • Restaurant sales amounted to $104.17 million, and Franchise income was $4.5 million.
  • The operating margin was 14.7%, and operating income for the quarter was $16.3 million.
  • EPS of $0.36 beat the analyst consensus of $0.23.
  • "We are excited about this momentum and our renewed commitment to unit growth as we expect to open seven new Company-owned or managed restaurants by the end of 2022," said President, CEO, and Chairperson Cheryl Henry.
  • Outlook: Ruth's Hospitality expects 2021 General and administrative expenses of $32 million - $33.5 million, and total capital expenditures of $20 million - $25 million.
  • Price action: RUTH shares traded higher by 2.84% at $20.31 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!