Red Robin reports Q3 net loss of $18.9M; comparable sales up 0.6%, adjusted EBITDA falls to $2.1M

RED ROBIN GOURMET BURGERS INC

2024-Q3 EPS reported -$2.42 revenue$963,333,000

Total revenues $274.6M, down $2.9M YoY; comparable restaurant revenue +0.6%, outperforming industry average per BlackBox.
Net loss $18.9M vs $8.2M loss prior year; adjusted EBITDA $2.1M compared to $6.8M last year.
FY2024 guidance: total revenue ~$1.250B, adjusted EBITDA $35-37.5M, capital expenditures ~$25M.
Credit agreement amended extending covenant relief through Q1 2026; revolver capacity increased by $15M to $40M.
Loyalty program members grew to 14.5M; sale-leaseback of 10 restaurants in Q1 yielded $23.3M net proceeds.

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