Burger Stocks Earnings Recap: HABT, RRGB, SHAK

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) reported its first-quarter earnings before the market opened on Tuesday, capping off the earnings season for the niche burger stocks.

For Red Robin, quarter one was not too friendly. Although the company reported earnings of $1.27 per share, which beat the Zacks Consensus Estimate of $1.10, shares tumbled over 18% on weak sales numbers and lowered guidance.

The sit-down burger chain posted revenues of $402.1 million, which missed our consensus estimate of $416 million. Furthermore, the company lowered its revenue guidance from its previously expected 8.5% to 9.5% growth range. Red Robin now expects its 2016 revenue to grow by just 8%.

Another burger specialist, The Habit Restaurants, Inc. (NASDAQ:HABT) , also reported its first-quarter earnings recently. The Irvine, California-based chain posted earnings of 10 cents per share, which was in-line with the Zacks Consensus Estimate.

The Habit narrowly missed revenue expectations, posting $67 million versus our consensus estimate of $68 million. Additionally, the company said it expects 2016 revenue to be within the range of $286 million to $290 million. Our consensus estimate currently sits at $288 million.

Finally, Shake Shack, Inc. (NYSE:SHAK) , also reported earnings last week. The burger chain from New York posted earnings of eight cents per share, which just beat the Zacks Consensus Estimate of seven cents. The company also edged out our revenue estimate of $53 million with its reported $54 million in quarterly revenue.

Shake Shack also raised its guidance. The company now expects revenues in the range of $245 million to $249 million, up from $237–$242 million projected earlier. Shake Shack also said it now plans to open 16 stores this year, up from its previous goal of 13.

Stay tuned for the latest on all things burger stock related, as well as the rest of the restaurant business!