Red Robin Gourmet Burgers, Inc. · NASDAQ:RRGB
Red Robin Gourmet Burgers — Q2 2021 Earnings Presentation
13 slides from Red Robin Gourmet Burgers's earnings presentation, Aug 18, 2021
Slide 1: Second Quarter 2021 Results
CLASSIFIED – INTERNAL USE ONLY August 18, 2021 Second Quarter 2021 Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-looking statements 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; 2021 effective tax rate; capital expend
Slide 3: Red Robin Second Quarter Financial and Operating Results
• Generated sequential improvement in average weekly net sales each period during the second quarter, despite operating under varying jurisdictional restrictions and reduced operating hours throughout the majority of the quarter ◦ Supported our staffing efforts through technology enhancements to the
Slide 4: Red Robin is Well-positioned to Thrive in a Post-Pandemic Environment
Red Robin is Well-positioned to Thrive in a Post- Pandemic Environment PAGE 4 1 2 3 4 Recapture our soul Deliver the brand promise Tell our story Accelerate profitable growth TGX service model Menu rationalization Investment in technology Donatos® Significant off- premises growth Portfolio optimizat
Slide 5: Comparable Restaurant Revenue Trend
Comparable Restaurant Revenue Trend(1) (1) Calculated at constant currency rates for periods with Canadian operations for FY 2019. PAGE 5 Fiscal Period -3.3% -1.5% 1.6% 1.3% -20.8% -41.4% -25.1% -29.0% 10.0% 66.3% -12.8% -2.4% Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 -50.0% -40.0%
Slide 6: Off-Premises Sales Trend
Off-Premises Sales Trend PAGE 6 US Comp Locations Off-Premise Sales as a percent of Gross Food & Beverage Sales 11.6% 12.5% 13.2% 13.9% 26.3% 63.8% 40.7% 43.9% 41.7% 32.8% Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0%
Slide 7: Appendix
Appendix PAGE 7
Slide 8: Second Quarter 2021 Sales Highlights
Second Quarter 2021 Sales Highlights (1) Calculated at constant currency rates for periods with Canadian operations for FY 2019. (2) Comparable revenue growth is calculated by comparing the same calendar weeks. Comparable restaurants are those Company-owned restaurants that have operated five full q
Slide 9: Second Quarter 2021 Restaurant Results
Second Quarter 2021 Restaurant Results (1) See Appendix for reconciliation of non-GAAP restaurant-level operating profit to net (loss) income. (2) Presented for improved comparability. Certain percentage and basis point amounts in the table above do not total due to rounding as well as restaurant op
Slide 10: Second Quarter 2021 Commodity Update
Second Quarter 2021 Commodity Update % of Total COGS in Q2-21 Variable vs. Fixed Pricing Ground beef 15.6% 30% fixed through 12/21 Steak fries 11.8% 100% fixed through 10/21 Poultry 11.5% Turkey fixed through 12/21; Chicken fixed through 2/22 Produce 6.9% 70% fixed through 10/21 Bread 5.6% 85% fixed
Slide 11: 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 pr
Slide 12: EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss)
EBITDA and Adjusted EBITDA Reconciliation to Net Income (Loss) ($ in thousands) 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) as reported $639 $981 $(1,821) $(7,702) $(174,298) $(56,261) $(6,179) $(39,330) $(8,713) $(4,996) Adjustments to net income (loss): Depreciation and amortiza
Slide 13: Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss)
Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss) and Adjusted Earnings (Loss) Per Diluted Share to Earnings (Loss) Per Diluted Share ($ in thousands, except per share data) 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) as reported $639 $981 $(1,821) $(7,702) $(174,2
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