The Dow Jones index closed lower by more than 200 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform. Cyanotech The Trade: Cyanotech Corporation (OTC:: CYAN) Director ...

ENGLEWOOD, Colo., Sept. 5, 2024 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced that it will participate in two investor conferences in September. On September 12, 2024, the Company will meet with institutional investors at the 2024 Benchmark Consumer 1x1 Conference in New York, NY. On September 16, 2024, the Company w ...

Red Robin Gourmet Burgers, Inc. (RRGB) posted mixed second-quarter fiscal 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top line increased year over year, while the bottom line fell from the prior-year quarter's levels. Following the results, the company's shares declined 14% during the after-hours trading session on Aug 22. Negative investor sentiments were witnessed as the company lowered its 2024 guidance on account of a broader industry slowdown. Del ...

Red Robin Gourmet Burgers (NASDAQ:RRGB) just reported results for the second quarter of 2024. Red Robin Gourmet Burgers reported earnings per share of -47 cents. This was below the analyst estimate for EPS of -39 cents. The company reported revenue of $300.15 million. This was 1.28% better than the analyst estimate for revenue of $296.35 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key tak ...

Financial Data and Key Metrics Changes - Total revenues for Q2 2024 were $300.2 million, compared to $298.6 million in Q2 2023, reflecting a slight increase [16] - Comparable restaurant revenue increased by 1.4%, benefiting from 220 basis points related to the loyalty program relaunch, but decreased by 0.8% when excluding this benefit [16] - Restaurant level operating profit as a percentage of restaurant revenue was 11.8%, a decrease of 80 basis points compared to Q2 2023 [17] - Adjusted EBITDA was $11.8 million, a decline of $3.6 million from Q2 2023, driven by lower guest counts and increased costs [19] Business Line Data and Key Metrics Changes - Guest satisfaction scores have improved significantly, reaching levels not seen since 2016, with a 6% increase in dine-in overall guest satisfaction scores [3][8] - The off-premise portion of the business saw a 7% increase in order accuracy and a 6% increase in team friendliness [7] - The company executed its bottomless promise offer to 90% of guests, a 9% increase from the previous year [8] Market Data and Key Metrics Changes - Comparable restaurant revenue in the first six weeks of Q2 increased by 0.4%, but declined by 1.9% in the final six weeks due to a broader consumer slowdown [16] - The company expects comparable restaurant traffic to decline approximately 5% in Q3 and 4% to 5% in Q4, while PPA is expected to increase by 5% and 7% to 8% respectively [22][23] Company Strategy and Development Direction - The company is focused on enhancing guest experience through the North Star plan, which includes improving food quality and service efficiency [3][5] - A new marketing plan was rolled out to promote the value of the bottomless menu items and engage guests through targeted digital media [10][11] - The revamped Red Robin Royalty Program aims to drive guest engagement and increase visitation frequency, with a significant increase in new member sign-ups [13][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment but expressed confidence in the company's strategic initiatives to improve guest experience and operational efficiency [3][26] - The company anticipates 2024 to be a trough year for financial performance, with expectations for recovery in 2025 and beyond [27] - Management highlighted the importance of maintaining a strong team and training to ensure service quality, despite the high turnover rates in the industry [41] Other Important Information - General and administrative costs were reduced to $16.6 million from $20.1 million in Q2 2023, primarily due to lower incentive compensation expenses [19] - The company ended Q2 with $23.1 million in cash and cash equivalents and executed an amendment to its credit agreement to increase financial flexibility [20][24] Q&A Session Summary Question: What led to the change in EBITDA guidance? - Management explained that the reduction in traffic expectations and higher commodity and labor costs contributed to the change in EBITDA guidance [28][29] Question: How does the company plan to manage G&A expenses moving forward? - Management anticipates a run rate of approximately $85 million for G&A expenses in 2025, down from initial expectations [30] Question: What is the expected contribution of the loyalty program to traffic recovery? - Management expressed optimism about the loyalty program's performance, noting significant increases in new member sign-ups and transaction frequency [34] Question: What are the key drivers of guest experience improvements? - Management identified manager presence and food quality execution as critical factors in enhancing guest satisfaction and driving traffic [39] Question: How does the company plan to address labor costs while maintaining service quality? - Management emphasized the importance of training and retaining staff to ensure service quality, while also being prepared to adjust labor costs if necessary [42]

Red Robin (RRGB) reported $300.15 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 0.5%. EPS of -$0.48 for the same period compares to -$0.24 a year ago. The reported revenue represents a surprise of +1.55% over the Zacks Consensus Estimate of $295.57 million. With the consensus EPS estimate being -$0.41, the EPS surprise was -17.07%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

Red Robin (RRGB) came out with a quarterly loss of $0.48 per share versus the Zacks Consensus Estimate of a loss of $0.41. This compares to loss of $0.24 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -17.07%. A quarter ago, it was expected that this casual restaurant chain would post a loss of $0.41 per share when it actually produced a loss of $0.80, delivering a surprise of -95.12%. Over the last four quarters, the compan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 14, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34851 RED ROBIN GOURMET BURGERS, INC. (Exact name of registrant as specified in its charter) Delaware 84-1573084 (State or other ...

Exhibit 99.1 Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal Second Quarter Ended July 14, 2024 Announces Credit Agreement Amendment Updates Full Year Guidance Englewood, CO – August 22, 2024 – Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the fiscal second quarter ended July 14, 2024. Highlights ...

Announces Credit Agreement Amendment Updates Full Year Guidance ENGLEWOOD, Colo., Aug. 22, 2024 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the fiscal second quarter ended July 14, 2024. Highlights for the Second Quarter of Fiscal 2024, Compared to the Second Quarter of Fiscal 2023: Total reven ...