ENGLEWOOD, Colo., Oct. 30, 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 it will release financial results for its fiscal third quarter 2024 on Wednesday, November 6, 2024, after the market close, followed by a conference call to discuss these results at 4:30 p.m. ET.The conference call can be accessed live over ...

The Veterans Day offer includes a complimentary Red's Big Tavern Burger – made with one juicy flat-top grilled beef patty topped with melted American cheese, Red's Secret Tavern Sauce, fresh lettuce and vine-ripened tomato all piled high on a toasted brioche bun and served with the choice of a Bottomless Side, including Red Robin's famous Bottomless Steak Fries, Yukon Chips, Steamed Broccoli or Side Salad. Substitutions, additions or premium sides may result in an added charge.For years, Red Robin has serve ...

With multiple layers of heat, meet the newest addition to Red Robin's gourmet burger lineup: the Jalapeño Heatwave. This spicy delight presents a slow burn that builds with each bite, featuring grilled jalapeño, pepper-jack cheese, caramelized onion, green chili aioli and freshly smashed avocado with red pepper flakes, topped with crispy fried jalapeño coins for a satisfying crunch. The Jalapeño Heatwave joins Red Robin's more than 20 gourmet burger lineup and is served with a choice of Bottomless side, fro ...

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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 ...

Core Insights - Red Robin Gourmet Burgers, Inc. (RRGB) reported mixed second-quarter fiscal 2024 results, with earnings missing expectations while revenues exceeded them, leading to a 14% decline in shares post-results due to lowered guidance amid industry slowdown [1][2][6] Financial Performance - The company recorded an adjusted loss per share of 48 cents, wider than the Zacks Consensus Estimate of a loss of 41 cents, compared to a loss of 24 cents in the prior-year quarter [2] - Quarterly revenues reached $300.2 million, surpassing the consensus mark of $296 million, reflecting a year-over-year increase of 0.5% [2] - Comparable restaurant revenues increased by 1.4% year over year [2] Operating Metrics - The restaurant-level operating profit margin was 11.8%, down from 12.6% in the prior-year quarter and slightly below the projected 11.9% [3] - Restaurant labor costs rose by 3.9% year over year to $113.9 million, exceeding the projection of $112.2 million [3] - Other operating costs were reported at $51.7 million, slightly lower than the prior-year figure of $51.8 million and below the projection of $54.3 million [4] EBITDA and Cash Position - Adjusted EBITDA for the quarter was $11.8 million, down from $15.5 million in the prior-year quarter and below the estimate of $14.1 million [4] - As of July 14, 2024, cash and cash equivalents stood at $23.1 million, a slight decrease from $23.6 million as of December 31, 2023 [5] - Long-term debt decreased to $162.3 million from $182.6 million in the prior-year quarter [5] 2024 Guidance - For fiscal 2024, total revenues are now expected to be approximately $1.25 billion, down from a previous range of $1.25-$1.275 billion [6] - Restaurant-level operating profit is anticipated to be between 11-11.5%, reduced from the previous expectation of 12.5-13.5% [6] - Adjusted EBITDA is now expected to be in the range of $40-$45 million, down from the previous expectation of $60-$70 million [6]

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 Performance - Red Robin reported revenue of $300.15 million for the quarter ended June 2024, reflecting a year-over-year increase of 0.5% [1] - The revenue exceeded the Zacks Consensus Estimate of $295.57 million by 1.55% [1] - The EPS for the quarter was -$0.48, compared to -$0.24 a year ago, indicating a decline [1] - The EPS surprise was -17.07% against the consensus estimate of -$0.41 [1] Key Metrics - Red Robin's stock has returned -10.8% over the past month, while the Zacks S&P 500 composite increased by 2.2% [3] - The company has a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market [3] - The total number of restaurants was reported as 503, slightly below the average estimate of 506 based on three analysts [6] - Comparable restaurant revenue showed a year-over-year change of 1.4%, compared to an average estimate of -1.5% [6] - Company-owned restaurants numbered 411, compared to the average estimate of 414 [5] - The total number of franchised restaurants was 92, slightly below the average estimate of 93 [4]

Financial Performance - Total revenues for Q2 2024 were $300.2 million, an increase of $1.5 million compared to Q2 2023[2] - Net loss for Q2 2024 was $9.5 million, compared to net income of $3.9 million in Q2 2023[2] - Adjusted EBITDA for Q2 2024 was $11.8 million, down from $15.5 million in Q2 2023[2] - Year-to-date total revenues were $688.7 million, a decrease of $27.8 million compared to the same period in 2023[2] - Total revenues for the twelve weeks ended July 14, 2024, were $300.154 million, a slight increase from $298.648 million in the same period last year, representing a growth of 0.5%[10] - Restaurant revenue increased to $294.457 million from $293.281 million year-over-year, indicating a growth of 0.4%[10] - Franchise revenue rose to $4.287 million, up 20.9% from $3.544 million in the prior year[10] - Reported net income for the twelve weeks ended July 14, 2024, was $(9,489) thousand, compared to a net income of $3,922 thousand for the same period in 2023[13] - Adjusted net income for the twenty-eight weeks ended July 14, 2024, was $(19,722) thousand, significantly lower than $36 thousand for the same period in 2023[13] Costs and Expenses - Total costs and expenses for the quarter were $304.715 million, compared to $288.390 million in the same period last year, reflecting an increase of 5.7%[10] - General and administrative expenses for the twelve weeks ended July 14, 2024, were $16,612 thousand, compared to $20,111 thousand in the same period last year[16] - Total interest expense for the twelve weeks ended July 14, 2024, was $4,997 thousand, compared to $6,305 thousand in the same period last year[17] - The company incurred litigation contingencies of $356 thousand for the twelve weeks ended July 14, 2024, compared to $1,240 thousand in the same period last year[17] - Asset impairment charges for the twelve weeks ended July 14, 2024, were $1,128 thousand, consistent with the prior year[13] Balance Sheet - Total assets decreased to $689.132 million as of July 14, 2024, down from $741.934 million at the end of 2023, a decline of 7.1%[11] - Total liabilities were $725.675 million, a decrease from $762.376 million at the end of 2023, indicating a reduction of 4.8%[11] - Cash and cash equivalents slightly decreased to $23.135 million from $23.634 million at the end of 2023[11] Share Performance - Basic and diluted loss per share for the quarter was $(0.61), compared to earnings of $0.24 per share in the same period last year[10] - The weighted average diluted shares outstanding for the twelve weeks ended July 14, 2024, were 15,680 thousand, down from 16,291 thousand in the prior year[13] - The company reported a loss per share of $(0.61) for the twelve weeks ended July 14, 2024, compared to earnings of $0.24 per share in the same period last year[13] Business Strategy and Outlook - Updated guidance for fiscal 2024 includes total revenue of approximately $1.250 billion and adjusted EBITDA of $40.0 million to $45.0 million[5] - The company completed a sale-leaseback transaction for ten restaurants, generating net proceeds of approximately $23.3 million[2] - The second amendment to the credit agreement provides additional flexibility to support the execution of the company's North Star business strategy[4] Guest Experience - The company has seen guest satisfaction scores increase to levels not achieved since 2016, indicating improvements in guest experience[2] - Restaurant-level operating profit margin for the twelve weeks ended July 14, 2024, was 11.8%, down from 12.6% in the same period last year[15] - EBITDA for the twelve weeks ended July 14, 2024, was $8,870 thousand, a decrease from $26,139 thousand in the prior year[17]

Core Insights - Red Robin Gourmet Burgers, Inc. reported a net loss of $9.5 million for the second quarter of fiscal 2024, a significant decline from a net income of $3.9 million in the same period last year [1][2][3] - Total revenues for the second quarter were $300.2 million, reflecting a slight increase of $1.5 million compared to the previous year [1][2] - The company has amended its credit agreement to provide additional financial flexibility, including an increase in revolving commitments and adjustments to financial covenants [1][3] Financial Performance - Total revenues for the year-to-date period of fiscal 2024 were $688.7 million, down $27.8 million from the same period in fiscal 2023 [1][2] - Comparable restaurant revenue declined by 4.0% year-to-date, with a marginal improvement to a decline of 3.2% when including a deferred revenue benefit from a loyalty program change [1][2] - Adjusted EBITDA for the second quarter was $11.8 million, down from $15.5 million in the prior year [1][2] Operational Highlights - The company completed a sale-leaseback transaction for ten restaurants, generating net proceeds of approximately $23.3 million and a gain of $7.4 million [1][2] - Guest satisfaction scores have improved to levels not seen since 2016, and comparable restaurant revenue has exceeded the industry average over the past three months [1][2] - The company expects to meet or exceed industry average traffic for the remainder of the year, despite current challenges in the broader restaurant industry [1][2] Guidance and Outlook - Updated guidance for fiscal 2024 includes total revenue projections of approximately $1.250 billion and adjusted EBITDA of $40.0 million to $45.0 million [1][4] - The company anticipates a restaurant-level operating profit margin of 11.0% to 11.5%, factoring in investments in guest experience and rent expenses related to sale-leaseback transactions [1][4]