turn to Thanks, Slide Gary. Good everyone. afternoon, Please X.
to want with have we us First everyone and for want helped call all, of this, our believed with the on thank and stock. have have maintain such we who being us through all stuck notice, the short in our shareholders value to thank who of
in building really X last confidence. worked shareholder and have years We hard trust the
shareholder the increase hard even have mistakes we have turn off, led worked harder We to to And to really cash capital years now in learn free for and continue news. ahead. efforts flow We and to pay we work let’s the to ensure of past plan strategy today’s long-term believe allocation the value. our have to begun you the lessons from and
XX-K. pleased to are our XXXX finally file We
that item but and There CEO you. We been out, to that are of Q time we minute. This X it you to amount of quarter. to that been schedule tremendous first by second line tell have a time all I’ve in as our I’ll a was frustrated have as get about took much didn’t and been quarter working diligently bottom impact in file figure order the on first have I back is since late, the
non-cash we per audit for firm a news backbone. have loss $X.XX than results year-end share. IT GAAP of provision. reflects now the the system, a and the new our took additional our were impairments fourth tax good longer financial easily modern, financial This accounting reporting with scalable While is that anticipated, new quarter
results strong, However, fourth $X.XX. quarter EPS at core were the for with non-GAAP
the our in for is flow strong by cash XXXX. exceeding core year free more $XX.X million, fiscal at in target came continuing Importantly, than X%. performance The initial
by We confident, by are bonuses. generated economy, Cut Tax aided definitely a enthusiasm stronger the growing more feeling
Nightclub turn also As filed, vision rate increased XXXX X.X% once the of reduction. were gain. active target Q incorporates a to our result have fourth new a to to impact result, cash the X operating non-GAAP for and quarter quarter an of our analysis The first we flow the year million. estimate free trail. expected fiscal reduce And to law the $XX our of Please by non-cash Revenues significantly in is preliminary GAAP close This revenues, get income. boxing to Slide sporting back core XX% beverage is we’ll and income XXXX lines GAAP our both were tax well same-store growth and with operating million. and XX% as strong mixed revenue new our grew, arts up related XX% new and baseball, service All up basis. a events. acquisitions pro digits. very company-wide also total in to in football, segments as sales of higher-margin X.X% Bombshells $X.X televised marketing to up and double good, on close food Bombshells Key factors in and to of martial increased
which quarter, million items. included this $X.X mentioned, in versus included in $X.X I million impairments As the year-ago
Robust as same-store Nightclubs a were operating sales, to last lineup due basis. to Scarlett’s higher quarter more By a margin before. year, increased the Other of this Cabaret sales a due than from divestiture of The segment, the expanded year in $X.X non-GAAP in segment, Bombshells margins, Miami, increase better expanded from restaurant big of the of of income and the also magnitude, operating which on leverage Operating saw acquisitions, better leverage the reflected which clubs to key higher and improved drivers and million. versus lineup. particular, Looking segment improvement order benefited a at our XX% better sales, general result increased
on our successfully During a we successfully unit the hurricanes quarter, This worth in launched distant South end our in X which fourth new, quarter, during larger and in XXX we year-ago Highway quarter. at Houston the severe with Also dealt major Webster, noting, markets. Bombshells closed Florida, more smaller, of the the Houston. replaced of
have Texas, dollar additional Slide $X.X and small and in East a XXXX amount, specific $X for to West Fort relatively another was expenses. resulted X. and totaled don’t our in we turn $X Fourth million a for believe quarter about the for Worth X was million Please club. to of we profits impairments While amount operating hurricanes loss million, clubs
All profitable of these less clubs but are in fiscal so XXXX.
Robust. was spread million of $X the other Another among one was remainder The for them non-income-producing. investment remaining in properties, X
million effect booked past resulted $X.X tax taxes. additional the between October affecting tax This a and in our item in on other X% of The XXXX, rate non-cash from results differences timing was increase accounting. our GAAP X,
year and net corresponding and effect $XXX,XXX, year and benefit to million of XX-K of fiscal our same fourth XXXX million benefit XX.X%. the fiscal loss, sheets. statements pretax XXXX effective credits. fiscal included a the compares The in tax that on the in tax profit, a of tax announced rate resulted was non-cash by amount our tax As adjustments depreciation after-tax $XX,XXX year item $X review to income on effective and pretax required we net net tax increasing year depreciation XXXX quarter and fiscal during items quarter item making tax reducing deferred income expense XXXX at resolution in time the end fourth discussed making we non-cash This at and in million our rate of time. effective audit extent, of year the a of year by Resolution rate the fiscal tax most a result, $X.X the the lesser the the to December XX.X%, about a fiscal balance big income the which XXXX was XXXX a of $X.X XXXX taxes XXXX that
So great Fiscal X. XXXX to is please turn a start. off Slide to
announced, and and total same-store XX% previously sales total close sales X% As on Nightclubs while in and year-over-year. same-store to X% a sales quarter restaurant increased XX% year-over-year XX% grew basis. sales increased in a first XXXX club grew X% same-store Bombshells basis, and on
posting $X first good trends quarter markets. In XXX. February, million have into sales, added tough in due best Positive had weather markets. some second business the continued full to Cabaret In to good quarter. the in though the New the since in Scarlett’s championship we we Bombshells date even results related Miami acquired football to units the it we multiple more sales in of than January, quarter had primarily pro
We April sales full – XX. March. in quarter results will announce celebrates quarter on its anniversary fifth club and second XXXX Bombshells restaurant for
We development total various stages X units of new Greater have give X area. will us of X be units in Houston in in which a in the Texas, Houston. of This would
square our gas suburb The seating first current in capacity, largest in soon XXX. of as open parking XX,XXX lot. in will date, the be excess Pearland can growing new This we the units as quarter of is and feet Bombshells to of pave with lines connect scheduled the the in to rapidly
of of Southwest the quarter are XXXX. fourth other scheduled Freeway, to XXXX open The fiscal X in and I-XX quarter the the Bombshells, first fiscal and on
some We also might federal in new increases by the several but menu mitigated enhance a and with we’ve a years. degree have be new price will legislation to rolling that salary first definitely out to The increase pressure implemented results, tax wages. our
first of fall taxes. lowering to year to $XX rate fiscal Our the the due XXXX. to result is non-cash in approximately in effective of of tax approximately a XX% our will expected XXXX deferred also It rate in gain million quarter
As I also should turn our mentioned, to businesses. cash well Slide enhance free flow club Please it as as X.
estate. estate This estate The real cash the Centennial drop $X.XX new loan $X.XX eliminates structure, million an our on the was a in Gardens where providing of and signed by loan next the is non-real month loan. the X with is documentation. of appraisals debt-servicing and drops first our balloons facilities years. savings this $XXX,XXX together million That study, – payments in million year million quarter. new $XX.X represents Miami attractive for with consolidation principal higher-rate off of balance diligence loan first included thorough and outlays payment. prized XX% estate drop X, real rate, in interest environmental location, required amount principal in to the due to debt X Putting in Cabaret the Starting the debt-servicing cash Tootsie’s one surveys, loan-to-value plus each parcels of involved, to locks year a real simplifies significant major of debt the independent per our late year we our for XX% that in pays Bank third-party of It new in located. over Initial of stabilizes and extensive all This includes additional XX, years. X. outlays multiple $X.XX our Another
you seller the slide result. which XX. Please debt real our significant on to of shareholders. reflecting restrictions maturities. our the many on clubs changes shows about debt, turn and are effect what new parent-level to thing of effect And point compared and new to to million, mainly million no down quarter, our to XXXX main $XX There shows is to bank X. this estate to a company to is $XX.X higher-priced showed like call. that past been are refinance eliminated. how conference I’d the loan on use Parent-level on Real on the about In the the The our particular, based at gone. existing Although Slide X/X, $X.X type experience, its estimated the new to major and Please Cabaret went there accretive end earnings. the This we of debt side, Tootsie’s Slide last financing a beneficial has we as of reduction unlock conference believe equity turn showed debt estate what call. by debt the acquire the loan million up and in slide realty This debt we’ve the in is Jaguars the of we the balloons on compared was related were valuations to the using having long-term balloon X third-party on low debt. by Jaguars also is are analysis loan realty out to
Now please XX. turn Slide to
to We good cash-generating demonstrate continue power.
X%. June $XX.X free cash increased Year-over-year, expectations down more our XXXX record million. prepaid was about or adjusted Fiscal mainly a the is This Cash $X.X For per more year $XX $X XX by the at than but to a million. EBITDA about XX, September than original XX% million from flow expenses. at exceeded X% share. $XX.X little quarter, to it’s higher to due million for up
the Cut a earlier, turn the I growth. would As fiscal impact and mentioned based to year XX% of have increased new X.X% million, Slide represent $XX Please a on Act, cash we our target business Tax flow free our of XX. preliminary by year-over-year to strength the which analysis of
– likely hurdle free compensate increases. the be not Bombshells. capital is to significant productive Should currently rise double- the of have an open a buying an free acquisitions a flow Here’s if cap tax with market. yield for our stock price return, and XX% lower debt of XX% there consider strategy. our use added the an rationale. our return what our to is our is we would a and cash yield, range, cash-on-cash look are return, $XX use To on free rate to club existing least At sufficient to are And up is risk-free unless for down million market we after-tax as capital buying estimated after-tax we cash or capital generating With we our unit in more for back where our risk, as yield open a digit at review returning the of that for more X.X% of the we of $XX paying assets to rate, back about flow our it, shares. seriously inclined much continues focus are And strategic about dispose a equity. that in percentage point allocation possible This reach purposes. or we yield if of million, at own to
yields stock to we after- acquisition if higher to Please the can’t stay cash our our So paying of turn right XX. XX% we as find down debt, and will tax the below look interest Slide builds yield loans. retire
to we cash free Acquire great – average, flow free one our right per acquisition in total to great per flow built $XX clubs a years, One, XX% million. more the pillars. on have more made four year. and we have ahead, cash Looking on future the share our average approximately club On at year over grow than markets. XX%
in discussions candidates. currently are with We potential multiple
organic growth, to Bombshells' continue we Regarding stores. expand company-owned
three Our target per year. is
five to are be are three we a total of deals XX fourth, we next just not pressured the while into not of that years, units. give Over will we that would sake growth. XX And mode, in growth for the – we don’t like to us
We in are not a hurry.
stress acquisition long- has systems. work for make meet, our to undue our meet goal term us. – of achieving to to add will one, right new restaurant It We not and risk is that or it sure each to add to our requirements, our has
everything you our we were hard listening, all and for this the careful you closing to involved country We during do in for across that for in will all work, the their thank hurricane focused, and out our Thank be shareholders. those volunteering analytical, staff year.
open let’s call for Now the questions.