RED ROBIN GOURMET BURGERS

(RED ROBIN GOURMET BURGERS)

Red Robin Shares Up On 4Q Earnings Beat, Stock Buyback

By Industries MarketWatch Pulse

Shares of Red Robin Gourmet Burgers Inc. are up 4.7% in premarket trading after it reported fourth-quarter earnings that beat Street estimates and a $100 million share repurchase program. The restaurant chain had net income of $11.7 million, or 84 cents per share, up from $3.9 million, or 28 cents per share, for the same period last year. Adjusted earnings were 86 cents per share, beating the FactSet consensus of 81 cents. Revenue totaled $286.3 million, up from $282.1 million last year, but missing the FactSet consensus of $289 million. Same-store sales for the quarter were down 2%, versus a FactSet estimate of a 1.4% decline. The company sees fiscal 2016 revenue growth between 8.5% and 9.5% with same-store sales growth in the low-single digits. Red Robin shares are down 24.6% for the past 12 months while the S&P is down 12.4% for the same period.

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