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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."

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