Red Robin reports FY 2023 net loss improvement of $57.7M, Adj. EBITDA up 33%; guides FY 2024 revenue $1.25-1.275B

RED ROBIN GOURMET BURGERS INC

2023-FY EPS reported -$1.34 revenue$1,303,046,000

Q4 total revenues $309.0M (+$19.4M YoY); comparable restaurant revenue -2.7%; net loss $13.7M vs $44.7M loss prior year.
Full year 2023: total revenues $1.303B (+$37.5M), comparable +1.6%; net loss $21.2M vs $78.9M loss in 2022; Adjusted EBITDA $68.9M (+33%).
Repaid $24.9M debt and repurchased $10.0M stock in 2023; expects Q1 2024 sale-leaseback of 8-11 properties for $20-26M gross proceeds.
FY 2024 guidance: total revenue $1.250B-$1.275B (52 weeks vs 53); Adj. EBITDA $60M-$70M; CapEx $25M-$35M.
Balance sheet: $189.1M credit facility borrowings, $48.6M liquidity; sale-leaseback proceeds to further reduce debt.

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