Red Robin Q4 2021 Earnings Report
Key Takeaways
Red Robin reported a net loss of $21.3 million for the fourth quarter of 2021, an improvement of $18.0 million compared to 2020. Restaurant revenue increased by 41.5% to $276.7 million, and comparable restaurant revenue increased by 40.1%. The company's adjusted EBITDA also improved by $15.3 million to $8.9 million.
Restaurant revenue increased 41.5% compared to 2020, reaching $276.7 million.
Comparable restaurant revenue increased 40.1% compared to 2020.
Net loss improved by $18.0 million compared to 2020, totaling $21.3 million.
Adjusted EBITDA improved by $15.3 million compared to 2020, reaching $8.9 million.
Red Robin
Red Robin
Forward Guidance
Red Robin provided guidance for full year 2022, assuming no significant disruptions from COVID-19 or geopolitical events. They expect mid-to-high single digit commodity and restaurant labor cost inflation, selling, general and administrative costs between $145 and $155 million, adjusted EBITDA between $80 and $90 million, and capital expenditures of $40 to $50 million.
Positive Outlook
- Continued investment in maintaining restaurants and systems.
- Modest new restaurant growth.
- Donatos® expansion to approximately 50 restaurants.
- Improvements to operational technology solutions.
- Off-premises execution enhancements.
Challenges Ahead
- Mid-to-high single digit commodity and restaurant labor cost inflation.
- Margin pressures expected to persist during 2022.
- Potential disruptions from COVID-19.
- Impact of geopolitical events.
- Other factors affecting the macroeconomic environment.