Red Robin Q1 net loss widens to $9.5M; revenue falls 6.5% YoY; early Q2 trends positive

RED ROBIN GOURMET BURGERS INC

2024-Q1 EPS reported -$0.61 revenue$388,541,000

Net loss of $9.5M ($0.61 per diluted share) vs $3.3M loss year ago; adjusted EBITDA $12.2M vs $35.9M.
Total revenues $388.5M, down $29.3M; comparable restaurant revenue fell 6.5%.
Completed sale-leaseback of 10 restaurants for $23.9M, repaid $21.2M debt in Q1.
Comparable restaurant revenue up 0.3% in first five weeks of Q2; guidance reaffirmed: revenue $1.25-1.275B, EBITDA $60-70M.
Launched new loyalty program on May 22, 2024.

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