Red Robin Shares Up 15% After Company Beats Earnings, Sales Expectations

Shares of Red Robin Gourmet Burgers Inc. rose more than 15% late Tuesday after the company reported better-than-expected first-quarter earnings and sales. Red Robin said it earned $11.6 million, or 89 cents a share, in the fiscal first quarter, compared with $14.2 million, or $1.03 a share, a year ago. Revenue reached $418.6 million, up 4% from $402.1 million a year ago. Analysts polled by FactSet had expected Red Robin to earn 57 cents a share on sales of $416 million in the quarter. Comparable-restaurant sales fell 1.2%, the company said. "The steps we've taken so far are strengthening our business, enabling us to gain market share, and separating Red Robin from our casual dining competitors," Chief Executive Denny Marie Post said in a statement. The shares had ended the regular trading session down 2.1%.