Red Robin Gourmet Burgers Forecasts FY24 Total Revenue Of $1.250B-$1.275B (Est $1.281B), Comparable Restaurant Revenue Of Low Single Digit Percentage Decline
Portfolio Pulse from Benzinga Newsdesk
Red Robin Gourmet Burgers projects FY24 total revenue to be between $1.250B-$1.275B, slightly below the estimated $1.281B. The company anticipates a low single-digit percentage decline in comparable restaurant revenue, with adjusted EBITDA expected to be between $60 million to $70 million and capital expenditures forecasted at $25 million to $35 million.
February 28, 2024 | 10:36 pm
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Red Robin Gourmet Burgers forecasts FY24 total revenue slightly below estimates with a low single-digit decline in comparable restaurant revenue. Adjusted EBITDA is expected to be $60M-$70M.
The forecasted revenue being slightly below the estimated figures and the expected decline in comparable restaurant revenue could lead to negative investor sentiment in the short term. The adjusted EBITDA and capital expenditures indicate the company's financial planning but may not offset the negative impact of lower revenue forecasts.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100