Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal First Quarter Ended April 20, 2025

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 $392.4 million, an increase of $3.8 million from $388.5 million in the same quarter of 2024 [4][7]. - Restaurant revenues rose to $385.8 million, up from $378.6 million year-over-year [4][7]. - Net income was $1.2 million, a significant improvement from a net loss of $9.5 million in the previous year, marking a $10.7 million increase [4][7]. - Adjusted EBITDA reached $27.9 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 $55.0 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 $171.7 million, down by $17.8 million from the end of fiscal 2024 [5]. - Liquidity stood at approximately $59.2 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 $1.23 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].