Red Robin Gourmet Burgers ( (RRGB) ) has released its Q4 earnings. Here is a breakdown of the information Red Robin Gourmet Burgers presented to its investors.
Red Robin Gourmet Burgers, Inc., a full-service restaurant chain known for its gourmet burgers and family-friendly atmosphere, operates in the casual dining sector across the United States and Canada.
In its latest earnings report for the fiscal year ending December 29, 2024, Red Robin reported a decrease in total revenues to $1.25 billion, down by $54.5 million compared to the previous year. Despite the revenue drop, the company saw a 3.4% increase in comparable restaurant revenue for the fourth quarter, excluding deferred loyalty revenue impacts.
Key financial metrics revealed a net loss of $77.5 million for the year, significantly higher than the $21.2 million loss in 2023. The fourth quarter alone saw a net loss of $39.7 million, largely due to $32.4 million in impairment and closure costs. However, the company achieved a 19% increase in adjusted EBITDA for the quarter, reflecting improvements in cost-saving initiatives.
Looking ahead, Red Robin’s management remains optimistic about 2025, focusing on enhancing guest experiences and operational efficiencies. The company aims to increase restaurant-level profitability and expects total revenue to range between $1.225 billion and $1.250 billion, with adjusted EBITDA projected between $60 million and $65 million.
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