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Jul 12, 2020
Red Robin Q2 2020 Earnings Report
Reported financial results, showing a decrease in total revenues due to the operational shift in response to COVID-19.
Key Takeaways
Red Robin Gourmet Burgers, Inc. reported a decrease in total revenues by 47.7% to $161.1 million compared to the same quarter last year. This was primarily driven by operational changes due to COVID-19, including limited capacity in dining rooms, operating an off-premise only model at restaurants with closed dining rooms, and closed restaurants. The company's net loss was $56.3 million, a significant shift from the $1.0 million net income in the second quarter of 2019.
Total revenues decreased by 47.7% to $161.1 million due to COVID-19 impacts.
Comparable restaurant revenue decreased by 41.4%.
Off-premise sales increased by 208.7%, comprising 63.8% of total food and beverage sales.
Net loss was $56.3 million, a significant decrease compared to a net income of $1.0 million in the same quarter last year.
Revenue by Segment
Forward Guidance
Due to the ongoing uncertainty of the COVID-19 pandemic, the company withdrew its 2020 and long-term financial outlook on April 1, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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