RCI Hospitality Holdings, Inc. reported its financial results for the fiscal 2024 fourth quarter and the full year ended September 30, 2024. The company announced a net income of $244,000, resulting in a profit of 3 cents per share for the fiscal fourth quarter.
Alongside the earnings report, RCI launched its "Back to Basics" Five-Year Capital Allocation Plan, targeting fiscal 2029 revenues of $400 million and free cash flow of $75 million. The plan also aims to reduce the outstanding share count to below 7.5 million, targeting approximately $10 in free cash flow per share.
The new capital allocation strategy dictates that 40% of free cash flow will be allocated to club acquisitions, including related debt, while the remaining 60% will be directed towards share buybacks, dividends, and debt reduction. This framework provides a clear roadmap for future growth and shareholder returns.
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