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Dec 25, 2022
Red Robin Q4 2022 Earnings Report
Red Robin reported financial results for the fiscal fourth quarter and year ended December 25, 2022.
Key Takeaways
Red Robin's total revenues for Q4 2022 were $290.1 million, a 2.4% increase compared to 2021. Comparable restaurant revenue increased by 2.5%. The net loss was $44.2 million, including a non-cash impairment charge of $25.0 million. Adjusted EBITDA was $8.9 million, consistent with the previous year.
Total revenues increased by 2.4% to $290.1 million compared to the previous year.
Comparable restaurant revenue grew by 2.5%, marking the eighth consecutive quarter of positive growth.
Net loss increased to $44.2 million, which includes a non-cash impairment charge of $25.0 million.
Adjusted EBITDA remained consistent at $8.9 million compared to the same period in 2021.
Forward Guidance
The Company expects for full year 2023: Total Revenue of approximately $1.3 billion; Restaurant Level Operating Profit of at least 13.0%, inclusive of investments in the Guest experience, primarily in labor; Selling, general and administrative costs of $120 million to $125 million; Capital expenditures of $35 million to $40 million; and Adjusted EBITDA of $62.5 million to $72.5 million.
Positive Outlook
- Total Revenue of approximately $1.3 billion
- Restaurant Level Operating Profit of at least 13.0%
- Investments in the Guest experience, primarily in labor
- Capital expenditures of $35 million to $40 million
- Adjusted EBITDA of $62.5 million to $72.5 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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