Red Robin Gourmet Burgers Earnings: Everything You Must Know Now
Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Red Robin Gourmet Burgers Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 48.08% to $0.77 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Rose 6.54% to $238.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Red Robin Gourmet Burgers Inc. reported adjusted EPS income of $0.77 per share. By that measure, the company beat the mean analyst estimate of $0.66. It missed the average revenue estimate of $239.28 million.
Quoting Management: “During the second quarter, we continued enhancing our menu to offer Red Robin guests greater variety and value while remaining true to our gourmet burger authority, contributing to revenue growth and continued market share gains in a tough casual dining environment,” said Steve Carley, Red Robin Gourmet Burgers, Inc. chief executive officer. “Our most recent performance marks 12 consecutive quarters of same store sales growth and continued expansion of our operating margins. Looking ahead, we remain focused on making even more progress on our strategic road map initiatives, including our brand transformation and other initiatives that are growing our base of loyal Red Robin fans and driving sustainable growth and profitability for our brand.”
Key Stats (on next page)…