Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) – Red Robin posts 41% revenue growth in Q4, expects margin pressure to continue through FY22

Red Robin Gourmet Burgers Inc (NASDAQ: RRGB) reported fourth quarter FY21 revenue growth of 40.9% year-over-year, to $283.38 million, excluding the consensus of $292.14 million. Comparable restaurant sales grew 40.1% year-over-year, driven by a 26.6% increase in the number of diners and a 13.5% increase in the average guest check. The operating margin at restaurant level was 13% compared to 6.2% last year. The adjusted EPS loss of $1 (1.03) missed the consensus of $ (0.51). Operating loss decreased to $17.6 million from $41.7 million last year. Adjusted EBITDA was $8.9 million versus a loss of $6.4 million last year. The company had $22.8 million in cash and equivalents as of December 26, 2021. Outlook: Red Robin Gourmet sees adjusted EBITDA for FY22 of $80 million-$90 million. It expects medium to high single digit inflation in commodity and restaurant costs. The company expects pressure on margins to continue into 2022. It expects to reach its restaurant-level operating profit margin of 2019 in 2023. Price action: RRGB shares closed 0.29% higher at $13.93 on Thursday.
This post Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) – Red Robin posts 41% revenue growth in Q4, expects margin pressure to continue through FY22 was original published at “https://www.benzinga.com/news/earnings/22/03/26097268/red-robin-clocks-41-revenue-growth-in-q4-expects-margin-pressures-to-persist-during-fy22”

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