Englewood, CO – Red Robin Gourmet Burgers, Inc. has released its financial results for the fiscal fourth quarter and the full year ended December 29, 2024, revealing a mix of challenges and promising signs.
While the full year saw a decline in revenue and a widened net loss, the fourth quarter demonstrated positive momentum, particularly in comparable restaurant revenue and adjusted EBITDA.
In the fourth quarter, Red Robin reported a 3.4% increase in comparable restaurant revenue (excluding a change in deferred loyalty revenue), and a 19% increase in adjusted EBITDA.
However, the company also reported a significant net loss of $39.7 million, attributed in part to $32.4 million in impairment and net closure costs related to underperforming restaurant locations.
For the full fiscal year, comparable restaurant revenue decreased by 1.2%, and the net loss widened to $77.5 million.
Despite the challenges, Red Robin’s President and CEO, G.J. Hart, expressed optimism, highlighting a 600-basis point improvement in traffic trends from the first quarter to the fourth.
The company is focusing on enhancing the guest experience, driving traffic back to its restaurants, and improving operational efficiency. Red Robin has also issued its 2025 financial guidance, projecting total revenue of $1.225 billion to $1.250 billion and adjusted EBITDA (excluding stock-based compensation) of $60 million to $65 million.
SOURCE Red Robin Gourmet Burgers, Inc.
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