Red Robin reports Q3 adjusted EPS (70c), consensus (78c)

Reports Q3 revenue $265.1M, consensus $256.75M. Comparable restaurant revenue decreased 1.2%, including recognition of deferred loyalty revenue. Excluding deferred loyalty revenue, comparable restaurant revenue decreased 1.3%. Dave Pace, Red Robin’s (RRGB) President and Chief Executive Officer said, “We began to quickly see results from our First Choice plan as our Big YUMMM promotion performed above expectations and helped deliver a sequential traffic improvement of approximately 250 basis points from the second quarter with particular resonance during mid-week dining and lunch dayparts.”