Red Robin reports Q4 adjusted EPS (66c), consensus (46c)

Reports Q4 revenue $309M, consensus $304.97M. Comparable restaurant revenue decreased 2.7%. G.J. Hart, Red Robin’s President and Chief Executive Officer said, “2023 was a successful transformational year for our iconic brand. Operationally, we made significant investments in what we serve and how we serve it to ensure the Guest experience at Red Robin is a memorable one and we continue to receive positive feedback from Guests. Financially, we made substantial progress by delivering a 1.6% increase in comparable restaurant revenue, a 33% increase in Adjusted EBITDA, and we strengthened our balance sheet by completing two tranches of sale-leaseback transactions to reduce our long-term debt by almost $25 million dollars.”