Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 05:00 pm ET


Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) Q3 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good afternoon everyone and welcome to the Red Robin Gourmet Burgers Incorporated Third Quarter 2019 Earnings Call. [Operator Instructions]

During the course of this conference call, management may make forward-looking statements about the Company's business outlook and expectations. These forward-looking statements and all other statements that are not historical facts reflect management's beliefs and predictions as of today and therefore are subject to risks and uncertainties as described in the Safe Harbor discussion found in the Company's SEC file.

During the call, the Company will also discuss non-GAAP financial measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles, but are intended to illustrate an alternative measure of the Company's operating performance that may be useful.

A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures can be found in the earnings release. The Company has posted its fiscal third quarter 2019 earnings release and supplemental financial information related to the results on its website at in the Investors Relations section.

Now, I would like to turn the call over to Red Robin CEO, Paul Murphy.

Paul Murphy

Good afternoon and thank you for joining us today. I am honored to have joined Red Robin as this is important inflection point in the Company's transformation and to be here, on my first earnings call. Lynn Schweinfurth, our Chief Financial Officer and Guy Constant, our Chief Operations Officer, Jonathan Muhtar, our Chief Concept Officer is also with us today to participate during the question and answer period.

Let me begin by recognizing Pattye Moore, for her hard work and dedication to Red Robin over the past 12 years. As she will be retiring from the Company at year end. Pattye has served Red Robin in various capacities, first as a Board member, then as Board Chair and more recently as interim CEO. During her tenure as interim CEO which began in April, Pattye and the executive team have effectively focused the organization on key priorities that are building business momentum, underscored by improving operating and guest satisfaction metrics that we can and will build upon further.

I've been in Red Robin for almost five weeks now. Since joining, I have been busy immersing myself in every aspect of the business so I can better understand our current challenges and opportunities to evaluate our progress today, to prioritize what to accomplish in 2020 and beyond to drive results.

In the course of my due-diligence, I have visited several Red Robin restaurants, spoken with general managers, team members and our franchise partners and listen to their viewpoints and suggestions with an open mind. Not surprisingly, I came away from these interactions impressed us by their passion, their level of appearing and their desire to be part of a winning organization. These positive experiences have only reinforce my conviction in Red Robin and the future of this great brand.

Strategically, there has been a lot of work done thus far, particularly as it relates to our most important