Red Robin Gourmet Burgers (RRGB) Misses Q1 EPS by 6c

Red Robin Gourmet Burgers (NASDAQ: RRGB) reported Q1 EPS of $0.69, $0.06 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $421.5 million versus the consensus estimate of $424.88 million.

Comparable restaurant revenue decreased 0.9% (using constant currency rates).

“While our sales were disappointing in the first quarter, we continued to do much better than casual dining on traffic according to Black Box Intelligence, outpacing the sector by 230 basis points. This makes our seventh quarter in a row of gaining market share. We did this by driving our off-premise sales by almost 40% year over year, increasingly going where the Guest wants us to be,” said Denny Marie Post, Red Robin Gourmet Burgers, Inc. chief executive officer. “We are taking steps to improve sales and traffic trends while continuing to make strides on productivity, which is critical to ensure we can deliver great service and value despite rising costs.”

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

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