Ruths Hospitality Group, Inc.

2023 Q2 Form 10-Q Financial Statement

#000143774923012795 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.00M $23.00M
YoY Change -76.04% -75.03%
Cash & Equivalents $16.00M $23.00M
Short-Term Investments
Other Short-Term Assets $3.112M $4.662M
YoY Change 0.13% 18.96%
Inventory $8.439M $9.138M
Prepaid Expenses
Receivables $28.65M $45.01M
Other Receivables $0.00 $0.00
Total Short-Term Assets $56.20M $81.82M
YoY Change -46.27% -44.04%
LONG-TERM ASSETS
Property, Plant & Equipment $152.1M $148.8M
YoY Change 18.75% 22.29%
Goodwill $45.55M $45.55M
YoY Change 0.0% 0.0%
Intangibles $45.00M
YoY Change -4.73%
Long-Term Investments
YoY Change
Other Assets $1.463M $1.519M
YoY Change -14.14% -1.81%
Total Long-Term Assets $445.3M $440.0M
YoY Change 8.55% 12.88%
TOTAL ASSETS
Total Short-Term Assets $56.20M $81.82M
Total Long-Term Assets $445.3M $440.0M
Total Assets $501.5M $521.8M
YoY Change -2.59% -2.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.947M $8.736M
YoY Change 15.12% -25.24%
Accrued Expenses $17.10M $17.00M
YoY Change 70.19% 31.52%
Deferred Revenue $65.06M $74.38M
YoY Change 6.13% 7.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $122.3M $138.3M
YoY Change 10.79% 2.11%
LONG-TERM LIABILITIES
Long-Term Debt $15.00M $30.00M
YoY Change -70.0% -57.14%
Other Long-Term Liabilities $237.0K $145.0K
YoY Change 243.48% 110.14%
Total Long-Term Liabilities $15.24M $30.15M
YoY Change -69.57% -56.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.3M $138.3M
Total Long-Term Liabilities $15.24M $30.15M
Total Liabilities $361.9M $389.5M
YoY Change -2.8% -2.82%
SHAREHOLDERS EQUITY
Retained Earnings $92.18M $86.28M
YoY Change 27.58% 30.83%
Common Stock $47.46M $46.05M
YoY Change -32.49% -33.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares $71.95K
Shareholders Equity $139.6M $132.3M
YoY Change
Total Liabilities & Shareholders Equity $501.5M $521.8M
YoY Change -2.59% -2.64%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4

Facts In Submission

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CY2023Q1 dei Entity Registrant Name
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Ruths Hospitality Group, Inc.
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CY2023Q1 dei Entity Incorporation State Country Code
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1471000 usd
CY2023Q1 ruth Increase Due To Proceeds Of Deferred Revenue Excluding Revenue Recognized
IncreaseDueToProceedsOfDeferredRevenueExcludingRevenueRecognized
5888000 usd
CY2023Q1 ruth Increase Due To Proceeds Of Unearned Franchise Fees Excluding Revenue Recognized
IncreaseDueToProceedsOfUnearnedFranchiseFeesExcludingRevenueRecognized
0 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Estimates </i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reporting of revenue and expenses during the periods presented to prepare these condensed consolidated financial statements in conformity with GAAP. Significant items subject to such estimates and assumptions include the carrying amounts of property and equipment, goodwill, franchise rights, operating lease right of use assets and obligations related to gift cards, income taxes, operating lease liabilities, incentive compensation, workers’ compensation and medical insurance. Actual results could differ from those estimates.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt;"> </p>
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058 pure
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
6726000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
6158000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3564000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3365000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
10290000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
9523000 usd
CY2023Q1 ruth Decrease In Unearned Franchise Fees Due To Recognition Of Franchise Development And Opening Fees
DecreaseInUnearnedFranchiseFeesDueToRecognitionOfFranchiseDevelopmentAndOpeningFees
60000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
19797000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27719000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
26596000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
25407000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
24983000 usd
CY2023Q1 ruth Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
225800000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
113789000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
236513000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
6907000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
6315000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7008000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
19932000 usd
CY2023Q1 ruth Number Of Leases Executed
NumberOfLeasesExecuted
2 pure
CY2023Q1 us-gaap Operating Lease Initial Direct Cost Expense Over Term
OperatingLeaseInitialDirectCostExpenseOverTerm
15600000 usd
CY2023Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P20Y
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
136857000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
126132000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
11093000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
27223000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
65056000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
74375000 usd
CY2023Q1 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2197000 usd
CY2022Q4 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2257000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
74375000 usd
CY2022Q4 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2257000 usd
CY2023Q1 ruth Decrease In Deferred Revenue For Balance From Gift Card Redemptions
DecreaseInDeferredRevenueForBalanceFromGiftCardRedemptions
15283000 usd
CY2023Q1 ruth Increase Decrease In Deferred Revenue Due To Other Changes
IncreaseDecreaseInDeferredRevenueDueToOtherChanges
76000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
65056000 usd
CY2023Q1 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2197000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
69029000 usd
CY2021Q4 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2219000 usd
CY2022Q1 ruth Decrease In Deferred Revenue For Balance From Gift Card Redemptions
DecreaseInDeferredRevenueForBalanceFromGiftCardRedemptions
13790000 usd
CY2022Q1 ruth Increase Due To Proceeds Of Deferred Revenue Excluding Revenue Recognized
IncreaseDueToProceedsOfDeferredRevenueExcludingRevenueRecognized
6057000 usd
CY2022Q1 ruth Decrease In Unearned Franchise Fees Due To Recognition Of Franchise Development And Opening Fees
DecreaseInUnearnedFranchiseFeesDueToRecognitionOfFranchiseDevelopmentAndOpeningFees
75000 usd
CY2022Q1 ruth Increases Due To Proceeds Received For Franchise Development And Opening Fees
IncreasesDueToProceedsReceivedForFranchiseDevelopmentAndOpeningFees
300000 usd
CY2022Q1 ruth Increase Decrease In Deferred Revenue Due To Other Changes
IncreaseDecreaseInDeferredRevenueDueToOtherChanges
2000 usd
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
61298000 usd
CY2022Q1 ruth Unearned Franchise Fees
UnearnedFranchiseFees
2444000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
15000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
30000000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
-0 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
-0 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
30000000 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 pure
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
136857000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
126132000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
32810000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
31472000 usd
CY2023Q1 ruth Unallocated Operating Income Loss
UnallocatedOperatingIncomeLoss
1426000 usd
CY2022Q1 ruth Unallocated Operating Income Loss
UnallocatedOperatingIncomeLoss
1409000 usd
CY2023Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
4510000 usd
CY2022Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
4915000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9507000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9241000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6543000 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4793000 usd
CY2023Q1 us-gaap Pre Opening Costs
PreOpeningCosts
522000 usd
CY2022Q1 us-gaap Pre Opening Costs
PreOpeningCosts
881000 usd
CY2023Q1 ruth Gain Loss On Lease Modifications
GainLossOnLeaseModifications
869000 usd
CY2022Q1 ruth Gain Loss On Lease Modifications
GainLossOnLeaseModifications
0 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
252000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
324000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000 usd
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
28000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13777000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12755000 usd
CY2023Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
8261000 usd
CY2022Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
10050000 usd
CY2023Q1 us-gaap Assets
Assets
501543000 usd
CY2022Q4 us-gaap Assets
Assets
521806000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.042 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.094 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.083 pure
CY2023Q1 ruth Effective Income Tax Rate Reconciliation Nondeductible Expense Executive Compensation Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExecutiveCompensationPercent
0.019 pure
CY2022Q1 ruth Effective Income Tax Rate Reconciliation Nondeductible Expense Executive Compensation Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExecutiveCompensationPercent
0.019 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.009 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.001 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.009 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.000 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.177 pure
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.184 pure
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
11342000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10413000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32030543
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33589838
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32437410
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33885076
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
184158
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11006
CY2023Q1 ruth Number Of Suppliers
NumberOfSuppliers
2 pure

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