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Oct 02, 2022
Red Robin Q3 2022 Earnings Report
Reported financial results with restaurant revenue increasing and comparable restaurant revenue also increased.
Key Takeaways
Red Robin Gourmet Burgers, Inc. reported financial results for the fiscal third quarter ended October 2, 2022. Restaurant revenue increased by 4.5% compared to 2021, driven by a 5.3% increase in comparable restaurant revenue. The net loss decreased compared to 2021. However, Adjusted EBITDA decreased due to higher operating costs.
Restaurant revenue increased 4.5% compared to 2021.
Comparable restaurant revenue increased 5.3% compared to 2021.
Net loss decreased compared to 2021.
Adjusted EBITDA decreased compared to 2021.
Red Robin
Red Robin
Red Robin Revenue by Segment
Revenue by Segment
Restaurant Revenue
CapyFin.com Forward Guidance
Due to higher commodity and operating costs, and strategic investments, the Company is updating its guidance as follows:
Positive Outlook
- Pricing in the mid-single digits.
Challenges Ahead
- Mid-double digit commodity cost inflation.
- Mid-to-high single digit restaurant labor cost inflation.
- Selling, general and administrative costs of $138 to $142 million.
- Capital expenditures of $43 to $48 million.
- Adjusted EBITDA of $53 to $58 million.