Red Robin Gourmet Burgers (NASDAQ: RRGB) reported Q4 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter came in at $291.5 million versus the consensus estimate of $295.74 million.

Comparable restaurant revenue decreased 4.3%.

Outlook for 2017

• Red Robin’s 2017 fiscal year consists of 53 weeks, which will end on December 31, 2017 (“2017”).
• The Company expects total revenues to grow between 6% and 8%, comprising comparable revenue growth of 0.5% to 1.5% and increased operating weeks associated with locations opened in 2016 and 2017, as well as the 53rd week in 2017.
• Cost of sales, as a percentage of restaurant revenue, is projected to improve 25 to 75 basis points versus 2016 due to the benefit of pricing and menu optimization work, partially offset by a slightly inflationary commodity environment.
• Restaurant labor costs, as a percentage of restaurant revenue, are projected to increase 25 to 75 basis points, driven by minimum wage increases in more highly penetrated markets, higher benefit costs, and restaurant manager bonuses planned at target levels, partially offset by the effect of pricing and improvements in labor productivity.
• Other operating expenses are expected to be flat to slightly increased, as higher utility costs will be mostly offset by lower repair and maintenance costs.
• Depreciation and amortization is projected to be slightly less than $95 million.
• General and administrative expense is projected to be slightly more than $100 million, as incentive compensation planned at target is offset by the effect of restructuring activity that took place in the second half of 2016. Selling expense is expected to be flat as a percent of total revenues as compared to 2016. Pre-opening expense is projected to be approximately $6 million.
• The Company’s income tax rate is expected between 20% and 22%.
• EBITDA, including the impact of non-cash stock compensation expense, is expected to range between $145 million and $150 million. EBITDA is a non-GAAP number and defined in Schedule III.
• Earnings per diluted share is projected to range from $2.70 to $3.00 with approximately 40% expected in the first half of 2017 and 60% in the second half of 2017. The Company expects Q1 earnings per diluted share between $0.40 and $0.60.
• Overall capital expenditures are projected between $85 million and $95 million. The Company plans to open approximately 17 and close nine Red Robin locations.

For earnings history and earnings-related data on Red Robin Gourmet Burgers (RRGB) click here.