Red Robin Gourmet Burgers shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results and lowered its FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Red Robin Gourmet Burgers shares declined after the company reported disappointing Q2 adjusted EPS results and reduced its FY24 revenue guidance below estimates.
August 22, 2024 | 8:25 pm
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Red Robin Gourmet Burgers reported worse-than-expected Q2 adjusted EPS and lowered its FY24 revenue guidance, leading to a decline in share price.
The company's Q2 adjusted EPS results were below expectations, which typically leads to a negative market reaction. Additionally, lowering FY24 revenue guidance suggests potential challenges ahead, further impacting investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100