Ruth's Hospitality Group (RUTH) Misses Q2 EPS by 2c

Ruth's Hospitality Group (NASDAQ: RUTH) reported Q2 EPS of $0.21, $0.02 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $92.7 million versus the consensus estimate of $92.88 million.

Company-owned Sales

• For the second quarter of 2016, Company-owned comparable restaurant sales increased 1.5%, which consisted of an average check increase of 3.7%, offset by a traffic decrease of 2.1%.
• Average unit weekly sales were $101.1 thousand in the second quarter of 2016, compared to $100.0 thousand in the second quarter of 2015.
• 67 Company-owned Ruth’s Chris Steak House restaurants were open at the end of the second quarter of 2016, compared to 66 Ruth’s Chris Steak House restaurants at the end of the second quarter of 2015. Total operating weeks for the second quarter of 2016 increased to 863 from 858 in the second quarter of 2015.

Franchise Income

• Franchise income in the second quarter of 2016 decreased to $4.0 million compared to $4.1 million in the second quarter of 2015. The decrease in franchise income was due primarily to development fees related to the opening of new restaurants in 2015.
• 80 franchisee-owned restaurants were open at the end of the second quarter of 2016 compared to 79 at the end of the second quarter of 2015.

For earnings history and earnings-related data on Ruth's Hospitality Group (RUTH) click here.

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