Englewood / CO. (rrgb) Red Robin Gourmet Burgers Inc., a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, reported financial results for the fiscal first quarter ended April 16 (Q1-2023). Highlights for Q1-2023 compared to Q1-2022:
- Total revenues are USD 418.0 million, an increase of USD 22.4 million compared to 2022.
- Comparable restaurant revenue increased 8.6 percent.
- Ninth consecutive quarter of positive comparable restaurant revenue growth.
- Comparable restaurant traffic increased 0.6 percent.
- Comparable restaurant revenue and comparable restaurant traffic both exceeded the industry averages as measured by the Black Box Casual Dining index.
- Comparable restaurant dine-in sales increased 16.4 percent.
- Comparable restaurant sales for the first thirteen weeks of the quarter increased 10.0 percent.
- Net loss of USD 3.1 million was unchanged compared to 2022.
- Income from operations was USD 4.3 million, or 1.0 percent of total revenues, compared to USD 4.4 million, or 1.1 percent of total revenues, in 2022.
- Restaurant Level Operating Profit Margin was 14.7 percent versus 14.0 percent in 2022.
- Adjusted Ebitda was USD 36.1 million, an USD 8.1 million increase compared to 2022.
For additional information please read the Company’s PDF file below (110 KB):
20230526-RED-ROBIN-Q1-2023.