Red Robin weathers turbulance

Red Robin weathers turbulance
Tags: Burger/Steak/BBQ, Food & Beverage
November 6, 2005

The restaurant industry, like many other consumer-related industries, has been on fire of late. Red Robin Gourmet Burgers is joining the parade, with its shares up more than 9% after it released third-quarter earnings Thursday night. Earnings per share came in at $0.39, which is down from last year's $0.43 per share.

There were two main reasons that investors are getting giddy. First, the results were better than the company's internal guidance of $0.33 to $0.35. Also, the company raised its revenue and earnings guidance for the rest of the year. For full-year 2005, it now expects revenue of $118 million to $119.5 million, which surpasses the analysts' prior consensus estimate of $116.7 million. Read More