Plus   Neg

Red Robin Gourmet Burgers Posts Adj. Loss In Q1 - Quick Facts

Red Robin Gourmet Burgers, Inc. (RRGB) reported a first quarter adjusted loss per share of $6.66 compared to adjusted earnings per share of $0.19, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $1.10, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was a loss of $10.7 million compared to adjusted EBITDA
of $34.3 million, prior year.

First quarter total revenues were $306.1 million, down 25.3%, primarily resulting from the closure of the dining rooms, and operational shift to off-premise only in response to the COVID-19 pandemic. Analysts expected revenue of $333.84 million for the quarter. Comparable restaurant revenue decreased 20.8% for the quarter.

Paul Murphy III, Red Robin's CEO, said: "We entered 2020 with accelerating business momentum, generating positive comparable restaurant revenue of 3.7% and positive Guest counts of 0.9% through the end of our second fiscal period. However, the COVID-19 pandemic resulted in an immediate shift of our priorities."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT