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RCI Hospitality Holdings Inc. (RICK+0.38%) has submitted its annual report on Form 10-K for the fiscal year ended September 30, 2024 filing.
The company reported consolidated revenues of $295.6 million, a slight increase from $293.8 million in the previous year. The Nightclubs segment contributed $243.9 million, while the Bombshells segment contributed $50.6 million.
RCI Hospitality Holdings Inc. operates 69 establishments across 13 states, providing adult entertainment and dining experiences. The company's operations are divided into two main segments: Nightclubs and Bombshells.
The company reported a net income of $3.0 million, down from $29.2 million in the previous year. This decrease is attributed to impairments and other charges totaling $36.6 million.
RCI Hospitality Holdings Inc. identified material weaknesses in its internal control over financial reporting, specifically in information technology general controls and the accounting for business combinations and impairments.
The company paid $2.3 million in dividends during the fiscal year and repurchased shares worth $20.6 million.
RCI Hospitality Holdings Inc. did not acquire any new businesses in 2024 but opened a new Bombshells location in Stafford, Texas.
The company's total assets as of September 30, 2024, were $584.4 million, with liabilities totaling $321.3 million.
RCI Hospitality Holdings Inc. continues to focus on expanding its operations through acquisitions and the development of new locations, with a strategic emphasis on its Bombshells brand.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the RCI Hospitality Holdings Inc. annual 10-K report dated December 16, 2024. To report an error, please email earnings@qz.com.