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Apr 21, 2024
Red Robin Q1 2024 Earnings Report
Red Robin's financial performance declined in the first quarter of fiscal year 2024, with decreased revenues and net loss compared to the same period last year.
Key Takeaways
Red Robin reported a decrease in total revenues to $388.5 million and a net loss of $9.5 million for the first quarter of fiscal 2024. The company focused on its North Star Five-Point plan and launched a new loyalty program to drive long-term shareholder value.
Total revenues decreased to $388.5 million, a $29.3 million decrease compared to the previous year.
Comparable restaurant revenue decreased by 6.5%.
Net loss was $9.5 million, compared to a net loss of $3.3 million last year.
Adjusted EBITDA was $12.2 million compared to $35.9 million last year.
Red Robin
Red Robin
Red Robin Revenue by Segment
Revenue by Segment
Restaurant Revenue
CapyFin.comFranchise Royalties & Fees Revenue
CapyFin.com Forward Guidance
Red Robin reiterates its Fiscal 2024 guidance.
Positive Outlook
- Total revenue of $1.250 billion to $1.275 billion.
- Restaurant level operating profit of 12.5% to 13.5%.
- Adjusted EBITDA of $60 million to $70 million.
- Capital expenditures of $25 million to $35 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income