Red Robin Q2 net loss $9.5M, cuts FY2024 EBITDA guidance to $40-45M

RED ROBIN GOURMET BURGERS INC

2024-Q2 EPS reported -$1.21 revenue$688,695,000

Net loss of $9.5M ($0.61/diluted share) vs net income of $3.9M in prior-year Q2.
Total revenues $300.2M, up $1.5M YoY; comparable restaurant revenue declined 0.8% excl. deferred revenue benefit.
Adjusted EBITDA $11.8M vs $15.5M a year ago; YTD adjusted EBITDA $24.0M vs $51.9M.
Amended credit agreement on Aug 21: revolver capacity increased by $15M to $40M, covenant relief through Q3 2025.
Updated FY2024 guidance: revenue ~$1.250B, restaurant-level OP 11.0-11.5%, adjusted EBITDA $40-45M.

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