Ruth's Hospitality Group (RUTH) Tops Q1 EPS by 16c, Revenues Beat
- Dow, S&P post worst week in months after hawkish Fed spooks investors
- Fed-fueled dollar rises as bears make for exits
- Adobe (ADBE) Edges Higher After Topping Q2 Estimates, Analysts Raise PT on 'Impressive' Performance
- Fed Statement Very Bullish for Tech Stocks, Focus on Cloud and Cyber Stocks - Wedbush
- You Fight Real Physical Inflation With Rate Hikes, Not Talk of Rate Hikes; Buy the Dip in Commodities, Gold Underpriced - Goldman Sachs
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Ruth's Hospitality Group (NASDAQ: RUTH) reported Q1 EPS of $0.26, $0.16 better than the analyst estimate of $0.10. Revenue for the quarter came in at $87.28 million versus the consensus estimate of $85.84 million.
Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc., commented, “Our impressive first quarter results reflect not only accelerating sales trends, but also strong margins as our operators continued to execute the efficiency and capacity utilization initiatives that we implemented in 2020. I would like to express my gratitude to our Ruth’s Chris team and franchise partners for delivering these results, while providing our guests with our signature service in a safe environment.”
Henry continued, “With dining rooms now open in nearly all of our restaurants and our improved financial position, we are focusing our efforts on growing sales and cash flow, building upon the digital foundation we’ve developed during the last year, and investing in new unit growth. This includes two to three new restaurants this year and an additional three to four planned for 2022. I’m optimistic about the future and confident that our iconic brand and our talented team members have us well positioned for growth.”
Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its full year 2021 outlook based on a 52-week year ending December 26, 2021, as follows:
- Restaurant labor efficiency of 100-150 basis points compared to 2019
- Marketing and advertising costs of $12 million to $14 million
- General and administrative expenses of $30 million to $32 million
- Effective income tax rate of 17% to 19%
- Total capital expenditures of $20 million to $25.0 million
- Fully diluted shares of 34.6 million to 35.2 million
For earnings history and earnings-related data on Ruth's Hospitality Group (RUTH) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Middlefield Banc Corp. (MBCN) Announces CEO Retirement and Succession Plan
- CAS Investment Partners Sends Letter to At Home Group (HOME) Stockholders, Says H&F's Offer Undervalues Company
- Genesco (GCO) Sends Letter to Shareholders Highlighting Strength of its Board and Strategy
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!