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Apr 18, 2021
Red Robin Q1 2021 Earnings Report
Reported financial results with all Company-owned indoor dining rooms open with varying levels of capacity and improved first quarter trends.
Key Takeaways
Red Robin Gourmet Burgers, Inc. reported restaurant revenue of $318.7 million and a Restaurant Level Operating Profit of 15.7% for the quarter ended April 18, 2021. Comparable restaurant revenue increased by 10.0% compared to the same period in 2020.
All Company-owned restaurants have re-opened indoor dining rooms with varying levels of capacity.
Restaurant revenue reached $318.7 million, and Restaurant Level Operating Profit was 15.7%, an increase of 690 basis points over 2020.
Comparable restaurant revenue increased 10.0% over the same period in 2020, but decreased 12.8% compared to the same period in 2019.
Off-premises sales increased 75.5% compared to the period ended April 19, 2020, comprising 41.7% of total food and beverage sales.
Red Robin
Red Robin
Red Robin Revenue by Segment
Revenue by Segment
Restaurant Revenue
CapyFin.com Forward Guidance
The company expects full-year capital expenditures of $45 million to $55 million and a full-year 2021 effective tax rate between 1% and 5%.
Positive Outlook
- Continued investment in maintaining restaurants and infrastructure.
- Expansion of Donatos® to approximately 120 restaurants.
- Investment in digital guest and operational technology solutions.
- Enhancements to off-premises execution.
- Expectation of full-year 2021 effective tax rate between 1% and 5%.