Ruth's Hospitality Group (RUTH) Tops Q3 EPS by 4c, Revenues Beat

October 30, 2020 7:08 AM

Ruth's Hospitality Group (NASDAQ: RUTH) reported Q3 EPS of ($0.15), $0.04 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $63.4 million versus the consensus estimate of $55.06 million.

Highlights for the third quarter of 2020 were as follows:

Cheryl Henry, President and Chief Executive Officer of Ruth's Hospitality Group, Inc., stated, “Our operations team has worked tirelessly to adapt to an ever changing regulatory environment and I’m thrilled with the continued sales trend improvement since the end of the second quarter that was the driver of our positive cash flow during the quarter. In addition to the sales improvement, we were also able to produce higher restaurant-level margin on lower sales compared to last year once our dining rooms have been reopened with capacity restrictions. As we look forward to the end of the year, we are cautiously optimistic about the health of our business and feel prepared with proven business models to operate in a variety of regulatory scenarios. All of these accomplishments would not have been possible without the tireless efforts from all of our Ruth’s Chris team members and our franchise partners.”

Financial Outlook

As a reminder, due to the ongoing uncertainty around the duration and severity of the COVID-19 pandemic, the Company previously withdrew its financial guidance for fiscal year 2020.

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

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