Red Robin Gourmet Burgers (NASDAQ: RRGB) reported Q1 EPS of ($0.12), $0.61 better than the analyst estimate of ($0.73). Revenue for the quarter came in at $380.6 million versus the consensus estimate of $381.18 million.

Comparable restaurant revenue increased 19.7% compared to 2021.

GUIDANCE:

The Company reiterated the following guidance for full year 2022:

• Mid-to-high single digit restaurant labor cost inflation;
• Selling, general and administrative costs between $145 and $155 million;
• Adjusted EBITDA(1) between $80 and $90 million; and,
• Capital expenditures of $40 to $50 million, as we continue to progress our strategic initiatives and focus on operational execution as we emerge from the pandemic, including continued investment in maintaining our restaurants and systems, modest new restaurant growth, Donatos® expansion to approximately 50 restaurants, improvements to our operational technology solutions, and off-premises execution enhancements.

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