Red Robin Gourmet Burgers, Inc. · NASDAQ:RRGB
Red Robin Gourmet Burgers — Q3 2020 Earnings Presentation
16 slides from Red Robin Gourmet Burgers's earnings presentation, Nov 5, 2020
Slide 1: Third Quarter 2020 Results
Slide 2: Forward-Looking Statements
Red ‘Robin Forward-Looking Statements faa Forward-looking statements in this presentation regarding the Company's future performance, including generation of positive cash flows, sales growth and off-premise sales growth, preliminary results including net comparable restaurant revenue and average we
Slide 3: Business and Operational Update Related to COVID-19
Business and Operational Update Related to COVID-19 Liquidity position of approximately $97 million as of October 4", excluding receipt subsequent to the third quarter balance sheet date of $49.4 million in cash tax refunds, including interest, as a result of the CARES Act net operating loss carryba
Slide 4: Red Robin Third Quarter Financial and Operating Results
Red Robin Third Quarter Financial Re G 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: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings Red Robin + Since the mid-March peak impact of the COVID-19 pandemic, substantial improvement in average weekly net sales per restaurant + On April 28, Red Robin began opening select dining rooms in a limited capacity + During the week of July 5, 53 Califo
Slide 6: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings Red Robin + Increasing average weekly net sales per restaurant since the beginning of the third quarter: DC rerosences™ | S| S| Net Comparable Restaurant Revenues (4.2)% (24.99% (14,9)% (15.4)% Sree ese al ee eal es sae oa aR a eae a + As of November 1, 20
Slide 7: Red Robin is Well-positioned to Emerge Strong Coming Out of the Crisis
Red Robin is Well-positioned to Emerge Strong Red Robin Coming Out of the Crisis New service Menu model rationalization Investment in Guest-facing technology Donatos® Significant off- Portfolio premise growth optimization | Deliver long-term value creation for shareholders |
Slide 8: Comparable Restaurant Revenue Trend
Comparable Restaurant Revenue Trend” RGRobin 5.0% 1.6% 0.0% = a = a 5.0% 2.6% 3.4% 3.3% 48% 10.0% 15.0% 20.0% 20.8% | 25.0% 25.1% 30.0% 35.0% 40.0% 41.4% 45.0% Q-18 218 «G38 HIB I-9 21919920220 03-20 (1) Calculated at constant currency rates for periods with Canadian operations for FY 2018 and 2019
Slide 9: Continued Off-Premise Sales Growth
Continued Off-Premise Sales Growth RSiRobin US Comp Locations Off-Premise Sales as a % of Gross F&B Sales 250% 208.7% oon ‘00 125.0% 61% 500% $a a i a i
Slide 10: Appendix
Appendix
Slide 11: Third Quarter 2020 Sales Highlights
Third Quarter 2020 Sales Highlights REVRobin 3-20 3-19 Change —Q3-20YTD—«Q3-19 YTD Change (12Weeks) _(12 Weeks) (40. Weeks) _(40 Weeks) Restaurant revenue $197 million $289.9 million _(32.0)% $658.6 million $992.8 million __(33.7)% Total company revenues $200.5 million $294.2 million __(31.9)% $667.
Slide 12: Third Quarter 2020 Restaurant Results
RGRobin Third Quarter 2020 Restaurant Results Ptah sites % of Restaurant Revenue % of Restaurant Revenue Favorable (Unfavorable) 3-20 Q3-19 (5) Other operating 19.1% 15.3% (380) Occupancy 11.2% 8.6% (260) Labor 37.7% 36.2% (150) Cost of sales 23.4% 23.8% 40 Restaurant Level Operating Profit'”” 8.6%
Slide 13: Third Quarter 2020 Commodity Update
Third Quarter 2020 Commodity Update % of Total COGS in Q3-20 Variable vs. Fixed Pricing Ground beef Steak fries Poultry Produce Bread Cheese 16.2% Variable (market driven) 12.9% 100% fixed through 10/21 10.6% 85% fixed through 1/21; 15% fixed through 1/22 7.3% 70% fixed through 10/21 5.9% 100% fixed
Slide 14: Restaurant Level Operating Profit Reconciliation to Income (Loss) from Operations and Net Income (Loss)
Restaurant Level Operating Profit Reconciliation to Income RERobin (Loss) from Operations and Net Income (Loss) ours natn ones ($ in thousands) 2018 2019 2020 at a2 a3 a4 at a2 a3 a4 ai az a3 Restaurant revenue Sa1a702 $910,392 $290.218 $300,807 $400,484 $002,418 $8.8G2 $206,757 $301.43 $160,144 $19
Slide 15: EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss)
EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss) Red Robin (Sin thousands) 2018 2019 2020 a a as as a @ as as at @ as Not income (loss) as reported $4380 $(1,874) $1,709 $110,634) $698 $981 (1,821) $17,702) $(174.298) $166,261) $46,179) ‘Adjustments to net income (oss Depreciation and
Slide 16: Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss)
Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss) and (ES Adjusted Earnings (Loss) Per Diluted Share to Earnings (Loss) Per Diluted Red Robin Share Sounwcrsunccas ae onews (Sin thousands, except per share data) Netngome lbs) a report Bs80 aT) ——<SL7OR—BNOR) =D fost) ir. 702)_—~NTA8)
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