Red Robin Gourmet Burgers (NASDAQ: RRGB) reported Q1 EPS of $0.89, $0.32 better than the analyst estimate of $0.57. Revenue for the quarter came in at $418.6 million versus the consensus estimate of $416.25 million.

• Total revenues were $418.6 million, an increase of 4.1%;
• Net income was $11.6 million compared to $14.2 million;
• Comparable restaurant revenue decreased 1.2% (using constant currency rates);
• Adjusted EBITDA was $45.8 million compared to $48.9 million (see Schedule III);
• GAAP earnings per diluted share were $0.89 compared to $1.03; and
• Adjusted earnings per diluted share were $0.89 compared to $1.27

“The steps we’ve taken so far are strengthening our business, enabling us to gain market share, and separating Red Robin from our casual dining competitors,” said Denny Marie Post, Red Robin Gourmet Burgers, Inc. chief executive officer. “During the first quarter, our everyday value Tavern Double burger menu continued to drive traffic, our teams delivered on improved speed of service, and our recent investments in the growing off-premise use began to gain traction. The early success of these and other initiatives gives us confidence that we are laying the groundwork for improved performance for the balance of the year and beyond.”

GUIDANCE:

Red Robin Gourmet Burgers sees FY2017 EPS of $2.80-$3.10, versus the consensus of $2.76.

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