Quarterly profits for Ruth’s Hospitality Group (RUTH) came in at $0.31, in line with analysts’ expectations. In addition, the Company’s revenue came in at $128.6 million during the third quarter, above the $124.48 million average expectation.
Ruth’s Hospitality Group, Inc. has forecasted the following 2022 operational metrics based on current facts and its most recent projections: As a proportion of restaurants’ revenue, restaurant labor costs are expected to decrease by around 200 basis points in the fiscal year 2022 compared to 2019. The combined marketing and administrative costs for the fiscal year 2022 are estimated to be between 10% and 11% of revenue.
An effective tax rate is between 17% and 19% $50 million to $55 million will be spent on capital projects in the fiscal year 2022. Click here to see Ruth’s Hospitality Group’s (RUTH) earnings history and earnings-related statistics.
It is a publicly traded hospitality group operating restaurants and properties in the United States. The Company uses the Ruth’s Chris Steak House brand, restaurants, and hospitality properties, including Ruth’s Hotel, in rhythm with the music of New Orleans and other brands. The Company was incorporated in 2011 and is based in Miramar, Florida. The Company’s restaurant and hospitality properties are operated under Ruth’s Chris Steak House, Thompson Hotel, Ruth’s Hospitality Group, and Ruth’s Hospitality Group International. In addition, in rhythm with the music of New Orleans, through its Hospitality Properties Division, the Company owns and operates hotels, including Ruth’s Hotel in New Orleans, LaConcha Hotel in Florida, and Eden Hotel in Amsterdam.