Business
Red Robin Gourmet Burgers Reports Results for the Fiscal Third Quarter Ended October 6, 2019
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (“Red Robin” or the “Company”), a full-service restaurant chain
About this update from Red Robin Gourmet Burgers, Inc.
[{"type":"text","content":" GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--\nRed Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (“Red Robin” or the “Company”), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the quarter ended October 6, 2019.\n\n\nThird Quarter 2019 Financial Summary Compared to Third Quarter 2018\n\n\n\nComparable restaurant revenue increased 1.6% (using constant currency rates), the third consecutive quarter of improved trends;\n\n\nComparable restaurant guest counts decreased 3.1%;\n\n\nOff-premise sales, including catering, increased 37.3% and comprised 13.2% of total food and beverage sales, including catering;\n\n\nTotal revenues were $294.2 million, a decrease of 0.2%;\n\n\nGAAP loss per diluted share was $0.14 compared to earnings per diluted share of $0.13;\n\n\nAdjusted loss per diluted share was $0.24 compared to adjusted earnings per diluted share of $0.16 (see Schedule I);\n\n\nNet loss was $1.8 million compared to net income of $1.7 million; and\n\n\nAdjusted EBITDA was $14.7 million compared to $24.2 million (see Schedule III).\n\n\n\nPaul J.B. Murphy III, Red Robin’s President and Chief Executive Officer, said, “I am encouraged by the current momentum at Red Robin, reflected in rising operating and guest metrics, complemented by an effective new omni-channel creative campaign, that are driving better topline results. The team is making progress strengthening and transforming the dine-in business while investing in our strategic priorities. While there still is much work to do, these efforts are enabling us to build our brand reputation and the confidence of our Guests, which are critical to driving sustainable improvements in sales and profitability for years to come.”\n\n\nMurphy added, “On behalf of the entire Red Robin team, I would like to thank Pattye Moore for her tremendous contributions during her tenure as interim CEO and for her service to the Company over the past 12 years. Under her effective leadership, the executive team established a stronger operational foundation that we can now build upon to create value for stockholders, Guests, Team Members, and other stakeholders.”\n\n\nThird Quarter 2019 Operating Results\n\n\nTotal revenues, which primarily include Company-owned restaurant revenue and franchi...