Ruth's Hospitality Group (RUTH) Reports In-Line Q1 EPS

Ruth's Hospitality Group (NASDAQ: RUTH) reported Q1 EPS of $0.45, in-line with the analyst estimate of $0.45. Revenue for the quarter came in at $119.7 million versus the consensus estimate of $119.31 million.

Financial Outlook

Based on current information and the aforementioned franchise acquisition, Ruth's Hospitality Group, Inc. is revising its full year 2019 outlook based on a 52-week year ending December 29, 2019, as follows:

• Food and beverage costs of 28.0% to 30.0% of restaurant sales
• Restaurant operating expenses of 48.0% to 50.0% of restaurant sales
• Marketing and advertising costs of 3.4% to 3.6% of total revenue
• General and administrative expenses of $35 million to $36 million, exclusive of integration costs related to the franchise acquisition
• Effective tax rate of 17% to 19%, excluding discrete income tax items
• Capital expenditures of $54 million to $56 million, inclusive of the $19 million related to the franchise acquisition, resulting in depreciation expense of $20.0 million to $22.0 million
• Fully diluted shares outstanding of 29.9 million to 30.3 million (exclusive of any future share repurchases under the Company's share repurchase program)

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

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