Benzinga | Aug 6, 2021 02:54PM EDT

Ruth's Hospitality Q2 Earnings Smashes Estimates

* Ruth's Hospitality Group Inc (NASDAQ:RUTH) reported second-quarter FY21 revenue growth of 290% year-on-year, to $110.9 million, beating the analyst consensus of $106.68 million.

* Comparable Restaurant Sales jumped 286.6% versus last year and 5.0% versus 2019.

* Restaurant sales amounted to $104.17 million, and Franchise income was $4.5 million.

* The operating margin was 14.7%, and operating income for the quarter was $16.3 million.

* EPS of $0.36 beat the analyst consensus of $0.23.

* "We are excited about this momentum and our renewed commitment to unit growth as we expect to open seven new Company-owned or managed restaurants by the end of 2022," said President, CEO, and Chairperson Cheryl Henry.

* Outlook: Ruth's Hospitality expects 2021 General and administrative expenses of $32 million - $33.5 million, and total capital expenditures of $20 million - $25 million.

* Price action: RUTH shares traded higher by 2.84% at $20.31 on the last check Friday.