Red Robin Q2 results beat estimates on average guest check improvement
RRGB•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the restaurants & bars peer group is "buy"
- Wall Street's median 12-month price target for Red Robin Gourmet Burgers Inc is $8.00, about 2.2% above its August 11 closing price of $7.83
Result drivers and key details
- Higher average guest check - Co said a 1.5% increase in average guest check drove comparable restaurant revenue growth
- Efficiency initiatives - Co attributed improved restaurant-level operating profit margin to efficiency initiatives and pricing, offsetting inflation
- Marketing spend - Increased selling expenses supported value platform marketing strategy, contributing to adjusted EBITDA growth
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Beat | $277.60 mln | $265.80 mln (3 Analysts) |
| Q2 Adjusted EPS | Beat | $0.12 | $0.003 (3 Analysts) |
| Q2 EPS | $0.02 | ||
| Q2 Net Income | $400,000 | ||
| Q2 Adjusted EBITDA | Beat | $18.90 mln | $17.79 mln (2 Analysts) |
| Q2 Income From Operations |
