Red Robin sees Q4 revenue $285.2M, consensus $279.32M

Total revenue is expected to be approximately $285.2 million, a decrease of $23.8 million, primarily due to the fourth quarter of fiscal 2024 including 12 operating weeks compared to 13 operating weeks in the fourth quarter of fiscal 2023. Restaurant revenue is expected to be approximately $280.6 million. Franchise royalties, fees and other revenue is expected to be approximately $4.6 million.Comparable restaurant revenue is expected to increase 3.4%, excluding the impact of a change in deferred loyalty revenue. Including this impact, Comparable restaurant revenue is expected to increase 1.8%. G.J. Hart, Red Robin’s (RRGB) President and Chief Executive Officer said, “We expect our fourth quarter comparable restaurant revenue growth will beat our prior expectations as the momentum we saw to start the fourth quarter accelerated through the end of the year. We believe our results were driven by continued traction from our relaunched loyalty program and our ‘Appointment Dining’ offers which provide selective and highly targeted day-of-the-week promotions to our guests who are searching for it most. These initiatives are driving new and lapsed guests back into Red Robin restaurants to experience the enhancements we have made to both food quality and hospitality.” Hart concluded, “We are pleased the business has continued to deliver strong growth in comparable restaurant revenue in the first two weeks of January. Finally, I’d like to say thank you to our more than 20,000 team members around the country. Their dedication to delivering a great guest experience every day is key to the long-term success of Red Robin.”