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Dec 29, 2019
Red Robin Q4 2019 Earnings Report
Red Robin reported results with second consecutive quarter of comparable restaurant revenue growth and consistent progress on its transformation strategy.
Key Takeaways
Red Robin Gourmet Burgers Inc. reported a 1.2% decrease in total revenues to $302.9 million. Comparable restaurant revenue increased by 1.3%, driven by a 4.7% increase in average guest check, while guest counts decreased by 3.4%. The company's GAAP loss per diluted share was $0.60, and the adjusted loss per diluted share was $0.36. Net loss was $7.7 million.
Total revenues decreased by 1.2% to $302.9 million.
Comparable restaurant revenue increased by 1.3%.
GAAP loss per diluted share was $0.60.
Off-premise sales increased 26.9% and comprised 13.9% of total food and beverage sales.
Red Robin
Red Robin
Forward Guidance
The Company currently expects the following in 2020:
Positive Outlook
- Comparable restaurant revenue growth in the low single digits
- Net income of at least $2 million, including a tax benefit of $10 million to $12 million
Challenges Ahead
- Incremental restaurant-level operating profit expected to be offset by pre-opening expenses, marketing expenses, and project expenses associated with growth initiatives
- Adjusted EBITDA, a non-GAAP financial measure, of at least flat compared to approximately $101 million in 2019
- Capital expenditures of $50 million to $60 million, including restaurant support center and systems; restaurant maintenance, refreshes and remodels; introduction of Donatos®; technology; and other investments to support growth initiatives.