Del Frisco's reports Q1 adjusted EPS (10c), consensus (15c)
Reports Q1 revenue $120.4M, consensus $120.65M. Total comparable restaurant sales increased 1.3%. Norman Abdallah, CEO of Del Frisco's, said, "We experienced a sequential improvement in comparable sales across all four brands during the first quarter of 2019. Barcelona and bartaco delivered low and mid-single digit growth, respectively, Del Frisco's Grille was slightly positive, while the Double Eagle was only modestly negative, and would also have been positive without planned sales transfer from the Boston Seaport restaurant to Boston Back Bay opening last summer which impacted comparable sales by 110 basis points. The Double Eagle and Del Frisco's Grille both continue to capitalize on their significant opportunities to generate private dining sales, which grew 4.6% and 2.0%, respectively on a comparable basis. We attribute their traction to improved banquet menu offerings, flawless execution, and effectiveness in building relationships with local businesses and luxury hotels through impactful marketing campaigns."