Red Robin: Reported Results for Fiscal Q4-2023

Englewood / CO. (rrgb) Full-service restaurant chain Red Robin Gourmet Burgers Inc. reported financial results for the fiscal fourth quarter and year ended December 31, 2023. President and Chief Executive Officer G.J. Hart: «2023 was a successful transformational year for our iconic brand. Operationally, we made significant investments in what we serve and how we serve it to ensure the Guest experience at Red Robin is a memorable one and we continue to receive positive feedback from Guests. Financially, we made substantial progress by delivering a 1.6 percent increase in comparable restaurant revenue, a 33 percent increase in Adjusted Ebitda, and we strengthened our balance sheet by completing two tranches of sale-leaseback transactions to reduce our long-term debt by almost USD 25 million dollars.

«While we have made significant progress across all points of our North Star Plan, 2023 was only the first step of our multi-year strategy. In 2024 we expect continued operational execution of a great Guest experience, additional marketing support and new campaigns to communicate the upgrades we have made, the launch of our new loyalty program, and aligning incentives under our Partner compensation model, will accelerate our path to achieve our goal – to bring Guests back into our restaurants for connection over craveable food that only Red Robin can provide.»

For additional information please read the company’s PDF file below (121 KB):