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Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal First Quarter Ended April 20, 2025
RRGBRed Robin Gourmet Burgers(RRGB) Prnewswire·2025-05-29 20:05

Core Viewpoint - Red Robin Gourmet Burgers, Inc. reported a strong financial performance for the fiscal first quarter of 2025, showing increases in both sales and profits compared to the same period in 2024, while outlining strategic priorities for future growth [1][3]. Financial Performance - Total revenues for the first quarter of 2025 were 392.4million,anincreaseof392.4 million, an increase of 3.8 million from 388.5millioninthesamequarterof2024[4][7].−Restaurantrevenuesroseto388.5 million in the same quarter of 2024 [4][7]. - Restaurant revenues rose to 385.8 million, up from 378.6millionyear−over−year[4][7].−Netincomewas378.6 million year-over-year [4][7]. - Net income was 1.2 million, a significant improvement from a net loss of 9.5millioninthepreviousyear,markinga9.5 million in the previous year, marking a 10.7 million increase [4][7]. - Adjusted EBITDA reached 27.9million,reflectinga108.227.9 million, reflecting a 108.2% increase from 13.4 million in the prior year [4][7]. Operational Highlights - Comparable restaurant revenue increased by 3.1%, with guest traffic declining by 3.5% and menu prices rising by 6.8% [16]. - Restaurant Level Operating Profit was 55.0million,withamarginof14.355.0 million, with a margin of 14.3%, compared to 41.5 million and 11.0% margin in the previous year [4][26]. Balance Sheet and Liquidity - As of April 20, 2025, the company had outstanding borrowings of 171.7million,downby171.7 million, down by 17.8 million from the end of fiscal 2024 [5]. - Liquidity stood at approximately 59.2million,includingcashandcashequivalents[5].StrategicPriorities−Thecompanyaimstofocusonfourkeypriorities:enhancingoperationalexecution,drivingsustainabletrafficgrowth,strengtheningfinancialpositionthroughdebtreduction,andreinvestinginrestaurantfacilities[3].OutlookforFiscal2025−Updatedguidancefortotalrevenueisprojectedbetween59.2 million, including cash and cash equivalents [5]. Strategic Priorities - The company aims to focus on four key priorities: enhancing operational execution, driving sustainable traffic growth, strengthening financial position through debt reduction, and reinvesting in restaurant facilities [3]. Outlook for Fiscal 2025 - Updated guidance for total revenue is projected between 1.21 billion and 1.23billion,withAdjustedEBITDAexpectedtoremainintherangeof1.23 billion, with Adjusted EBITDA expected to remain in the range of 60 million to $65 million [9]. - The company anticipates a decline in comparable restaurant sales of approximately 3% in the second quarter of fiscal 2025 due to the non-recurrence of benefits from a loyalty program [9].