Ruth's Hospitality Group (RUTH) Reports In-Line Q2 EPS

Ruth's Hospitality Group (NASDAQ: RUTH) reported Q2 EPS of $0.31, in-line with the analyst estimate of $0.31. Revenue for the quarter came in at $128.6 million versus the consensus estimate of $124.48 million.

Financial Outlook:

Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its outlook for the following 2022 operating measures:

Fiscal year 2022 restaurant labor expense improvement of approximately 200 basis points (as a percentage of restaurants sales) compared to 2019
Fiscal year 2022 combined marketing and general and administrative expenses is expected to be between 10.5% and 10.8% of revenue
Effective income tax rate of 17% to 19%
Fiscal year 2022 capital expenditures of $50 to $55 million

The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition.

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

You May Also Be Interested In

• Diana Shipping withdraws bid to acquire Genco Shipping
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c