Red Robin reports Q3 adjusted EPS ($1.13), consensus (96c)

Reports Q3 revenue $274.6M, consensus $270.75M. Comparable restaurant revenue increased 0.6%. G.J. Hart, Red Robin’s (RRGB) President and Chief Executive Officer said, “Our third quarter results were largely in-line with our expectations and we continue to make progress against our North Star Plan.” Hart continued, “Our North Star Plan is working with our comparable restaurant revenue exceeding the industry average, as measured by BlackBox, and our traffic returning to in line with the industry as we moved through the third quarter. With our guest satisfaction scores continuing to improve and at levels not seen since 2016, our guests are beginning to reward us for the investments we have made to revitalize Red Robin. Importantly, we are capitalizing on this momentum through our re-launched loyalty program and believe we are only scratching the surface of our potential.” Hart concluded, “Despite the macroeconomic backdrop that has made our comeback journey more challenging, our team has remained focused on what we can control through effective execution of our strategic plan. Ultimately, we believe we are on the right path to drive sustainable long-term growth and return this beloved brand to prominence in the industry.”