Hotels, Restaurants and Leisure
Company Overview of Del Frisco's Restaurant Group, Inc.
Del Frisco's Restaurant Group, Inc. develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco’s Double Eagle Steak House, Sullivan’s Steakhouse, and Del Frisco’s Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood. As of February 24, 2017, it operated 53 restaurants in 24 states and Washington, D.C. The company was founded in 1981 and is headquartered in Southlake, Texas.
930 South Kimball Avenue
Southlake, TX 76092
Founded in 1981
Key Executives for Del Frisco's Restaurant Group, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $62.3K
President of Double Eagle Steak House
Total Annual Compensation: $230.0K
Total Annual Compensation: $300.0K
Vice President of Culinary and Corporate Executive Chef
Total Annual Compensation: $216.0K
Compensation as of Fiscal Year 2016.
Del Frisco's Restaurant Group, Inc. Key Developments
Del Frisco's Restaurant Group, Inc. Announces Executive Changes
May 8 17
Del Frisco's Restaurant Group, Inc. announced the resignation of Mr. Tom Pennison as the company's Chief Financial Officer and the hiring of Mr. Neil Thomson to serve as the company's new Chief Financial Officer, with Mr. Thomsons employment to begin on May 22, 2017. Mr. Pennison, who delivered his notice of resignation on May 3, 2017, will remain with the company through the end of May to assist in the transition process and will be eligible to receive certain benefits set forth in his previously-disclosed employment agreement. Mr. Thomson will serve as Chief Financial Officer pursuant to an Executive Employment Agreement, dated May 5, 2017. Before agreeing to join the company, Mr. Thomson, age 46, spent the last 15 years with Yum! Brands, Inc. Mr. Thomson most recently served as the Chief Growth Officer for Pizza Hut Asia Pacific where he was responsible for finance, development and supply chain functions across Asia Pacific, a position he held since January 2017.
Del Frisco's Restaurant Group, Inc. Opens Del Frisco’s Double Eagle Steak House in Plano, TX
May 3 17
Del Frisco's Restaurant Group, Inc. announced the opening of its Del Frisco’s Double Eagle Steak House at the Legacy West development in Plano, TX. The new restaurant, located on the northwest corner of Dallas North Tollway and Legacy Drive, marks the 13th Del Frisco’s Double Eagle and the third in the Dallas-Fort Worth area. The restaurant opened on May 3 with a ribbon cutting ceremony. The two-story steakhouse at Legacy West designed by Aria Group Architects is a modern, bold and dramatic space perfect for dining, drinks and socializing. Focal points of the restaurant include the circular first-floor bar, wine walls that hold nearly 9,000, a grand staircase with custom metal screen railings and a two-story chandelier. The restaurant has seating for 446 guests across two bars, five dining areas and four private dining rooms, and a robust second-story bar with impressive views of Legacy West. The uniquely designed restaurant provides a luxurious and warm atmosphere that is great for lunch, dinner and special occasions. Del Frisco’s Double Eagle Steak House at Legacy West serves bold, chef-driven cuisine, under the direction of Executive Chef Craig Walter. The menu includes a selection of new 45-day dry-aged steaks, signature 28-day wet-aged filets, and bone-in steaks the concept is known for as well as market fresh and seasonal seafood favorites. To accompany the impeccable menu, the location also offers a diverse wine list of more than 1,000 labels including a mix of California and global wines from a variety of new and old world producers.
Del Frisco's Restaurant Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 21, 2017; Reiterates Earnings Guidance for the 52-Week Ending December 26, 2017
Apr 25 17
Del Frisco's Restaurant Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 21, 2017. For the quarter, the company reported revenues of $83,890,000 compared to $81,194,000 a year ago. Operating income was $4,408,000 compared to $7,879,000 a year ago. Income before income taxes was $4,396,000 compared to $7,848,000 a year ago. Net income was $3,310,000 or $0.14 per basic and diluted share compared to $5,411,000 or $0.23 per basic and diluted share a year ago. Adjusted net income was $4,567,000 or $0.20 per diluted share compared to $5,411,000 or $0.23 per diluted share a year ago. Restaurant-level EBITDA was $17,958,000 against $18,029,000 a year ago. Adjusted pre-tax income was $6,432,000 compared to $7,848,000 a year ago.
The company reiterates earnings guidance for the 52-week ending December 26, 2017. For the period, the company expects total comparable restaurant sales of negative 0.5% to 0.5%. Restaurant-level EBITDA of 21.1% to 21.4% of consolidated revenues. Effective tax rate of approximately 29% to 31%. Gross capital expenditures (before tenant allowances and inclusive of remodels and expenditures related to 2018 openings) of $32.8 million to $33.8 million. Annual adjusted net income per diluted share between $0.82 and $0.86, increased from between $0.80 and $0.84 related to stock repurchases made during the first quarter.
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