Red Robin Gourmet Burgers, Inc. · NASDAQ:RRGB
Red Robin Gourmet Burgers — Q4 2020 Earnings Presentation
15 slides from Red Robin Gourmet Burgers's earnings presentation, Mar 3, 2021
Slide 1: Fourth Quarter 2020 Results
CLASSIFIED – INTERNAL USE ONLY March 3, 2021 Fourth Quarter 2020 Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-looking statements in this press release regarding the Company's future performance, demand and business recovery, growth drivers, long-term value creation, revenue and comparable revenue growth, sales and profitability including sales trajectory, off-premise sales
Slide 3: Red Robin Fourth Quarter Financial 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 counts ◦ In the fourth fiscal quarter, increased jurisdictional in
Slide 4: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings PAGE 4 • 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 Californi
Slide 5: Recent Performance and Dining Room Openings
Recent Performance and Dining Room Openings PAGE 5 Period Ended(2) Company-owned Restaurants(3) 1-Nov 29-Nov 27-Dec 24-Jan 21-Feb(4) 28-Feb(5) Net Comparable Restaurant Revenues (15.4)% (28.8)% (39.5)% (27.0)% (22.4)% (13.3)% Average Weekly Net Sales per Restaurant $42,509 $38,941 $35,716 $39,702 $4
Slide 6: Red Robin is Well-positioned to Emerge Strong Coming Out of the Crisis
Red Robin is Well-positioned to Emerge Strong Coming Out of the Crisis PAGE 6
Slide 7: Comparable Restaurant Revenue Trend
Comparable Restaurant Revenue Trend(1) (1) Calculated at constant currency rates for periods with Canadian operations for FY 2018 and 2019 PAGE 7
Slide 8: Continued Off-Premise Sales Growth
Continued Off-Premise Sales Growth PAGE 8
Slide 9: Appendix
Appendix PAGE 9
Slide 10: Fourth Quarter 2020 Sales Highlights
Fourth Quarter 2020 Sales Highlights (1) Comparable revenue growth is calculated by comparing the same calendar weeks. Comparable restaurants are those Company-owned restaurants that have operated five full quarters during the period presented, and such restaurants are only included in the comparabl
Slide 11: Fourth Quarter 2020 Restaurant Results
Fourth Quarter 2020 Restaurant Results (1) See Appendix for reconciliation of non-GAAP restaurant-level operating profit to net income (loss) % of Restaurant Revenue % of Restaurant Revenue Favorable (Unfavorable) Q4-20 Q4-19 (bps) Other operating 20.4% 14.7% (570) Occupancy 11.8% 8.9% (290) Labor 3
Slide 12: Fourth Quarter 2020 Commodity Update
Fourth Quarter 2020 Commodity Update % of Total COGS in Q4-20 Variable vs. Fixed Pricing Ground beef 14.8% Variable (market driven) Steak fries 13.4% 100% fixed through 10/21 Poultry 10.8% Turkey fixed through 12/21; Chicken fixed through 2/22 Produce 8.4% 70% fixed through 10/21 Bread 6.1% 85% fixe
Slide 13: Restaurant Level Operating Profit Reconciliation to Income (Loss) from Operations and Net Income (Loss)
Restaurant Level Operating Profit Reconciliation to Income (Loss) from Operations and Net Income (Loss) ($ in thousands) (1) Excluding depreciation and amortization, which is shown separately (2) Certain amounts presented in prior periods have been reclassified to conform with the current period pre
Slide 14: EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss)
EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss) ($ in thousands) 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net income (loss) as reported $4,380 $(1,874) $1,709 $(10,634) $639 $981 $(1,821) $(7,702) $(174,298) $(56,261) $(6,179) $(39,330) Adjustments to net income (loss): Depr
Slide 15: Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss)
Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss) and Adjusted Earnings (Loss) Per Diluted Share to Earnings (Loss) Per Diluted Share ($ in thousands, except per share data) (1) For the second and fourth quarters of 2018, the impact of dilutive shares is included in the calculations
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