Red Robin Achieves Comparable Restaurant Revenue Growth In Q4 - Quick Facts

(RTTNews) - Red Robin Gourmet Burgers, Inc. (RRGB) reported preliminary fourth quarter revenues of $302.9 million, a decrease of 1.2% from a year ago, primarily due to restaurant closures, partially offset by the increase in comparable restaurant revenue. Comparable restaurant revenue was up 1.3%, for the quarter.

For full year 2019, Red Robin believes adjusted EBITDA will be between $100 million and $102 million.

For fiscal 2020, the company targets to achieve low single digit comparable restaurant revenue growth with incremental restaurant-level operating profit. The company projects flat to slightly positive adjusted EBITDA compared to 2019.

Beginning in 2021, the company expects mid-single digit comparable restaurant revenue growth, margin expansion, adjusted EBITDA growth of 10%-15%, $45+ million in free cash flow, along with a further reduction in debt and additional return of capital to shareholders.