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Del Frisco's updates FY2018 guidance to reflect sale of Sullivan’s Steakhouse

Nov. 12, 2018 7:27 AM ETDel Frisco's Restaurant Group, Inc. (DFRG) StockBy: Niloofer Shaikh, SA News Editor
  • Del Frisco's Restaurant (NASDAQ:DFRG) reports total comparable restaurant sales fell 1.9% in Q3, consisting of a 5.5% decrease in customer counts.
  • Comp declined 2.4% at Del Frisco's Double Eagle Steak House, 7% at bartaco and 0.4% at Del Friscos Grille.
  • Comp grew 2.5% at Barcelona.
  • Del Frisco's Double Eagle Steak House revenue rose 9.7% to $38.11M.
  • Del Frisco's Grille revenues advanced 5.6% to $27.32M.
  • Restaurant-level EBITDA margin increased 210 bps to 17.7%.
  • G&A expense rate +80 bps to 11.2%.
  • The company completed the sale of Sullivan’s Steakhouse for total proceeds of $32M.
  • FY2018 Guidance: Comparable restaurant sales: -1.5% to +0.5%; Restaurant-level EBITDA margin: 19.5% to 20.5%; G&A: ~$39M to $42M; Gross capex: $75M to $80M; Adjusted EBITDA: $34M to $38M.
  • Previously: Del Frisco's Restaurant EPS of -$1.49 (Nov. 11)

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