Red Robin Gourmet Burgers, Inc. · NASDAQ:RRGB
Red Robin Gourmet Burgers — Q2 2020 Earnings Presentation
17 slides from Red Robin Gourmet Burgers's earnings presentation, Aug 11, 2020
Slide 1: Second Quarter 2020 Results
Slide 2: Forward-Looking Statements
Red Robin Forward-Looking Statements sean tate Forward-looking statements in this presentation regarding the Company's future performance, including sales growth and off-premise sales growth, reopening and closures of dining rooms, estimated average weekly cash burn and underlying assumptions includ
Slide 3: Business and Operational Update Related to COVID-19
RGRobin Business and Operational Update Related to COVID-19 + Persevering through an unprecedented time for the business, industry, and country to combat the global COVID-19 crisis + Strategic investments made prior to the crisis in off-premise, digital, and loyalty have enabled us to successfully s
Slide 4: Red Robin Second Quarter Financial and Operating Results
Red Robin Second Quarter Financial RS Robin and Operating Results + Red Robin entered fiscal 2020 with strong business momentum and substantially improved guest satisfaction scores * Through the first eight weeks of the year, comparable restaurant revenue grew 3.7%, driven in part by positive Guest
Slide 5: Responding to the COVID Pandemic
Responding to the COVID 19 Pandemic ked ke OFF PREMISE BUSINESS DRIVING STABILITY FINANCIAL MEASURES TO ENSURE AMPLE EVEN AS DINING ROOMS RE-OPEN LIQUIDITY AND FINANCIAL FLEXIBILITY * Strategic decisionto enhance off-premise business overthe last + AsofAugust 9, 2020, Red Robin has liquidity of over
Slide 6: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings + Since the mid-March peak impact of the COVID-19 pandemic, substantial improvement in average weekly net sales per restaurant with sequential increases over the last five weeks + On April 28, Red Robin began opening select dining rooms in a limited capaci
Slide 7: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings Red Robin + Increasing average weekly net sales per restaurant since California indoor dining rooms closed: Weekly Net Comparable Restaurant Revenves 55% 274% OAK BI INH HH HHA ZB ‘Average Net Sales per Restaurant $3020 $40.506 © $38471 $99,938 «© «$34791
Slide 8: Red Robin is Well-positioned to Emerge Strong Coming Out of the Crisis
Red Robin is Well-positioned to Emerge Strong Coming Out of the Crisis 1 Recapture our soul Newseniicn Menu model rationalization Deliver the brand promise Investment in Guest-facing technology 3 Tell our story Donatos® Significant off- Portfolio 4 Accelerate profitable growth premise growth J optim
Slide 9: Comparable Restaurant Revenue Trend
Comparable Restaurant Revenue Trend” RGRobin 5.0% 20.8% QB 248348 HB t-9 «24939920220 (1) Calculated at constant currency rates for periods with Canadian operations for FY 2018 and 2019
Slide 10: Continued Off-Premise Sales Growth
Continued Off-Premise Sales Growth RSiRobin US Comp Locations Off-Premise Sales as a % of Gross F&B Sales 208.7%
Slide 11: Appendix
Appendix
Slide 12: Second Quarter 2020 Sales Highlights
Second Quarter 2020 Sales Highlights REVRobin 2-20 2-19 Change —Q2-20YTD.—Q2-19 YTD Change (12Weeks) _(12 Weeks) (28 Weeks) __(28 Weeks) Restaurant revenue $160.1 million $302.4 million (47.0)% $461.6 million $702.9 million (34.3)% Total company revenues $161.1 million $308.0 million (47.7% $467.2 m
Slide 13: Second Quarter 2020 Restaurant Results
RGRobin Second Quarter 2020 Restaurant Results Ptah sites % of Restaurant Revenue % of Restaurant Revenue Favorable (Unfavorable) 2-20 Q2.19 (5) Cost of sales. 24.2% 23.9% (30) Labor 39.2% 35.2% (400) Other operating 21.6% 14.3% (730) Occupancy 13.0% 8.4% (480) Restaurant Level Operating Profit”) 2.
Slide 14: Second Quarter 2020 Commodity Update
Second Quarter 2020 Commodity Update % of Total COGS in Q2-20 Variable vs. Fixed Pricing Ground beef 20.0% Variable (market driven) Steak fries 13.2% 100% fixed through 10/21 Poultry 10.9% 100% fixed through 1/21 Produce 7.4% 70% fixed through 10/21 Bread 5.8% 185% fixed through 12/20, 15% fixed thr
Slide 15: Restaurant Level Operating Profit Reconciliation to Income (Loss) from Operations and Net Income (Loss)
Restaurant Level Operating Profit Reconciliation to Income RERobin (Loss) from Operations and Net Income (Loss) ours natn ones ($ in thousands) 2018 2019 2020 at a2 a3 a4 at a2 a3 a4 at a2 Restaurant revenue $414,702 $310,302 $280,218 $300,897 $400,484 $202,418 «$289,862 $206,757 saoraae $160,144 Re
Slide 16: EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss)
EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss) Red Robin (Sin thousands) ounwer aunGERS a BREWS 2018 201 2020 a @ as as at a2 as 4 a @ Not income (loss) as reported $4980 $1874) $1709 (10,604) $889 $051 $821) $7702) $(174288) $156,261) ‘Adjustments to net income (oss Depreciation and
Slide 17: Reconciliation of Adjusted Net Income to Net Income (Loss) and Adjusted Earnings (Loss) Per Diluted Share
Reconciliation of Adjusted Net Income to Net Income (Loss) and Adjusted RERobin Earnings (Loss) Per Diluted Share to Earnings (Loss) Per Diluted Share iavaiaey soncent uno (Gin thousands, except per share data) Netincom (loss) a reported a0 —«a8r4) ——=s1709—w106%4) 3539 3087 Sasi) S748) 8.261) ‘Adju
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