# EDGAR Filing Document

**Accession Number:** 0001324272
**File Stem:** 0001437749-23-005591
**Filing Date:** 2023-3
**Character Count:** 9323
**Document Hash:** ec8b0fa9420e9424dc573d3288f0c506
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-005591.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001437749-23-005591

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 27

**CONFORMED PERIOD OF REPORT**: 20230307

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ruths Hospitality Group, Inc.
- **CENTRAL INDEX KEY:** 0001324272
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING PLACES [5812]
- **IRS NUMBER:** 721060618
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1225

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-51485
- **FILM NUMBER:** 23711070

**BUSINESS ADDRESS:**
- **STREET 1:** 1030 W. CANTON AVENUE
- **STREET 2:** SUITE 100
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789
- **BUSINESS PHONE:** (407) 333-7440

**MAIL ADDRESS:**
- **STREET 1:** 1030 W. CANTON AVENUE
- **STREET 2:** SUITE 100
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ruths Chris Steak House, Inc.
- **DATE OF NAME CHANGE:** 20050419

ruth20230303_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

**FORM **8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): **March 7, 2023**

## RUTH ' S HOSPITALITY GROUP, INC.
**(Exact name of Registrant as Specified in Its Charter)** 

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| | | |
|:---|:---|:---|
| **Delaware** | **000-51485** | **72-1060618** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br> **Identification No.)** |
| **1030 W. Canton Avenue, Ste. 100**<br> **Winter Park, **FL** |  | **32789** |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant**'**s Telephone Number, Including Area Code: (**407**) **333-7440**

**Not Applicable** 

**(Former Name or Former Address, if Changed Since Last Report)** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on<br> which registered |
| Common Stock, par value $0.01 per share | RUTH | Nasdaq |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01. Regulation FD Disclosure**

Ruth's Hospitality Group, Inc. will meet with investors and analysts at the Raymond James 44<sup>th</sup> Annual Institutional Investors Conference on March 7, 2023. During these meetings, management expects to present a corporate overview and financial highlights. A copy of the presentation, substantially in the form expected to be used in such meetings, is furnished herewith as Exhibit 99.1.

The information in this Item 7.01 and in item 9.01 (including Exhibits 99.1 and 99.2) of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in this Item 7.01 and in item 9.01 (including Exhibits 99.1 and 99.2) of this Current Report on Form 8-K shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item** 9**.01. Financial Statements and Exhibits**

**Exhibit Index**

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| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [Investor Update – March 2023](ex_483568.htm) |
| 99.2 | [Reconciliation of Net Income (Loss) to Non-GAAP Adjusted EBITDA](ex_483569.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | **RUTH**'**S HOSPITALITY GROUP, INC.** |
| Date: March 7, 2023 | By: | /s/ Kristy Chipman |
|  |  | **Kristy Chipman** |
|  |  | **Executive Vice President, Chief Financial Officer and Chief Operating Officer (Principal Financial and Accounting Officer)** |

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## Exhibit 99.1

**Exhibit 99.1**

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![rjfiresidechat_v42page12.jpg](rjfiresidechat_v42page12.jpg)

## Exhibit 99.2

**Exhibit 99.2**

We prepare our financial statements in accordance with U.S. generally accepted accounting principles (GAAP). Within these investor presentation materials, we make reference to a non-GAAP financial measure: adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA). This non-GAAP financial measure was calculated by excluding the impact of certain items to improve comparability between periods. We believe that this measure represents a useful internal measure of performance. Accordingly, where this non-GAAP measure is provided, it is done so that investors have the same financial data that management uses in evaluating performance with the belief that it will assist the investment community in assessing our underlying performance and valuation on a quarter-over-quarter and year-over-year basis. However, because this measure is not determined in accordance with GAAP, it is susceptible to varying calculations and not all companies calculate the measure in the same manner. As a result, the aforementioned measure may not be directly comparable to similarly titled measures presented by other companies. This non-GAAP financial measure is presented as supplemental information, and not as an alternative, to any GAAP measurements.

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| |
|:---|
| **Reconciliation of Net Income (Loss) to Non-GAAP Adjusted EBITDA** |
| **(Amounts in thousands)** |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year** | **Fiscal Year** | **Fiscal Year** | **Fiscal Year** | **Fiscal Year** | **Fiscal Year** |
|  | **2017** | **2018** | **2019** | **2020** | **2021** | **2022** |
| **GAAP Net income (loss)** | $**30137** | $**41680** | $**42206** | $**(25294)** | $**42275** | $**38621** |
| Adjustments: |  |  |  |  |  |  |
| Interest expense, net | 821 | 1739 | 2197 | 4681 | 3478 | 1507 |
| Income tax expense (benefit) | 15669 | 8247 | 8173 | (7910) | 4063 | 7010 |
| Depreciation and amortization expenses | 14995 | 18538 | 21354 | 21964 | 20487 | 22103 |
| **Earnings (loss) before interest, taxes, depreciation and amortization** | $**61622** | $**70204** | $**73930** | $**(6559)** | $**70303** | $**69241** |
| Employee retention credit |  |  |  | (2525) | (381) |  |
| Accelerated stock compensation and severance payments |  |  |  | 1824 | 445 |  |
| Loss on legal settlement |  |  |  |  |  | 6000 |
| Franchisee acquisition costs | 619 | 1525 | 536 |  |  |  |
| Loss (gain) on lease modifications |  |  |  | (206) | 1058 | 90 |
| Loss on impairment and restaurant closure costs | 3904 |  | 374 | 16548 | 1854 | 574 |
| Loss (income) on discontinued operations, net of tax | 108 | (80) |  |  |  |  |
| Share based compensation expense | 6763 | 7647 | 8157 | 8261 | 4888 | 7872 |
| **Non-GAAP Adjusted EBITDA** | $**73016** | $**79296** | $**82997** | $**17343** | $**78167** | $**83777** |

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