- Red Robin Gourmet Burgers Inc (NASDAQ:RRGB) reported first-quarter FY22 revenue growth of 21.2% year-over-year to $395.60 million, beating the consensus of $381.18 million.
- Restaurant sales rose 19.4% Y/Y, and comparable restaurant revenue increased 19.7%.
- Restaurant-level operating profit margin decreased by 170 basis points to 14%, driven primarily by commodity and labor cost inflation, partially offset by sales leverage.
- The operating income for the quarter was $4.4 million, with an operating margin of 1.1%. Adjusted EBITDA was $28 million.
- The company held $41.9 million in cash and equivalents as of April 17, 2022. Cash provided by operating activity totaled $13.3 million.
- Adjusted loss per share was $(0.12), beating the consensus of $(0.73).
- Outlook: Red Robin reiterated its outlook for mid-to-high single-digit restaurant labor cost inflation in FY22. It also continues to expect margin pressures to persist during 2022.
- It sees FY22 adjusted EBITDA of $80 million - $90 million and capital expenditure of $40 million - $50 million.
- Price Action: RRGB shares are trading higher by 14.3% at $9.84 in premarket on the last check Friday.
- Photo Via Company
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Why Red Robin Gourmet Burgers Shares Are Surging Today
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks