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Dec 29, 2024
Red Robin Q4 2024 Earnings Report
Red Robin Gourmet Burgers, Inc. reported its financial results for the fiscal fourth quarter and full year ended December 29, 2024.
Key Takeaways
Red Robin Gourmet Burgers, Inc. reported a decrease in total revenues for the fiscal fourth quarter of 2024, primarily due to fewer operating weeks compared to the prior year. Despite the revenue decline, the company saw an increase in comparable restaurant revenue and adjusted EBITDA for the quarter, indicating improved operational efficiency.
Total revenues for Q4 2024 were $285.2 million, a decrease from $309.0 million in Q4 2023, primarily due to fewer operating weeks.
Comparable restaurant revenue increased by 3.4% excluding the impact of a change in deferred loyalty revenue, and by 1.8% including this impact.
Net loss for Q4 2024 was $39.7 million, which includes $32.4 million in impairment and net closure costs.
Adjusted EBITDA increased by 19.0% to $12.7 million in Q4 2024.
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 Gourmet Burgers, Inc. provided financial guidance for fiscal year 2025, projecting total revenue between $1.225 billion and $1.250 billion, restaurant level operating profit between 12.0% and 13.0%, adjusted EBITDA (excluding stock-based compensation) between $60 million and $65 million, and capital expenditures between $25 million and $30 million.
Positive Outlook
- Projected total revenue for FY 2025 is between $1.225 billion and $1.250 billion.
- Anticipated restaurant level operating profit margin for FY 2025 is between 12.0% and 13.0%.
- Adjusted EBITDA (excluding stock-based compensation) is expected to be between $60 million and $65 million.
- The company is well-positioned to deliver significant value to guests and shareholders.
- The strategy in place is expected to continue the positive momentum from Q4 2024.
Challenges Ahead
- The company does not present a reconciliation of forecasted non-GAAP measures to corresponding GAAP measures due to the difficulty of projecting event-driven transactional and other non-core operating items.
- The guidance assumes no obligation to update or supplement this information, which may change.
- The company is evaluating alternatives for approximately 70 underperforming restaurant locations, which could impact future operations.
- The company's performance for the remainder of 2025 may not be consistent with the results from the first eight weeks of 2025.
- Various risks and uncertainties, including economic and geopolitical environments, competition, and supply chain disruptions, could cause actual results to differ materially from projections.
Revenue & Expenses
Visualization of income flow from segment revenue to net income