Ruth's Hospitality Q1 Earnings Beat Estimates

Ruth's Hospitality Group Inc RUTH reported first-quarter FY22 sales growth of 44.5% year-on-year, to $126.13 million, beating the consensus of $118.02 million.
Comparable Restaurant Sales jumped 41.5% versus last year and 8.1% versus 2019.
Restaurant sales amounted to $118.7 million, and Franchise income was $4.7 million.
Food and beverage costs, as a percentage of restaurant sales, rose 445 basis points to 32.5%.
The operating margin was 10.3%, and operating income for the quarter was $13.1 million.
EPS of $0.31 beat the analyst consensus of $0.30.
The company's board declared a quarterly dividend of $0.14 per share payable on June 2, 2022, to shareholders of record on May 19, 2022.
Outlook: Ruth's Hospitality expects 2022 combined marketing and general and administrative expenses to be 10.3% - 10.8% of revenue and total capital expenditures to be $53 million - $58 million.
Price Action: RUTH shares traded higher by 4.03% at $20.29 on the last check Friday.