Red Robin reports Q2 adjusted EPS (24c), consensus (54c)

Reports Q2 revenue $298.6M, consensus $295.26M. Reports Q2 comparable restaurant revenue(1) increased 1.5%. Reports Q2 comparable restaurant dine-in sales increased 5.9%. G.J. Hart, Red Robin’s President and Chief Executive Officer said, “In the first half of 2023, we began executing the North Star plan by investing in our people, food, and hospitality. We are pleased with our traction so far, the clear improvement in guest satisfaction, and reinvigorated financial performance. Adjusted EBITDA is $51.5 million in just the first half of 2023, compared to $52.1 million in the entire year of 2022. The meaningful changes we have implemented are delivering on our promises to team members, guests, and investors. While we are in the early stages of the comeback of this iconic brand, we are confident in our strategic direction and see tremendous runway ahead.”