RED ROBIN GOURMET BURGERS Reports FY2023 Q2 Earnings Results on August 17, 2023
August 31, 2023
🌥️Earnings Overview
On August 17 2023, RED ROBIN GOURMET BURGERS ($NASDAQ:RRGB) released its financial results for the second quarter of FY2023, ending June 30 2023. For Q2, the company achieved a total revenue of USD 298.6 million, representing a 1.6% year-over-year increase. Additionally, net income for the quarter rose 121.9% to USD 3.9 million compared to the same period in the prior year.
Share Price
On Thursday, August 17, 2023, RED ROBIN GOURMET BURGERS announced their financial results for the second quarter of fiscal year 2023. The company’s stock opened at 11.5 and closed the day at 10.9, a decrease of 4.5% from its prior closing price of 11.4. Investors responded fairly negatively to the news, as reflected by the 4.5% decline in stock price.
The company has been transitioning to focus on its takeout and delivery services as well as its loyalty program, which has helped to make up for the losses in dine-in sales due to the pandemic. Despite these attempts, the results are still short of expectations. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RRGB. More…
| Total Revenues | Net Income | Net Margin |
| 1.29k | -55.59 | -3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RRGB. More…
| Operations | Investing | Financing |
| 17.32 | -14.04 | -6.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RRGB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 798.4 | 795.37 | 0.19 |
Key Ratios Snapshot
Some of the financial key ratios for RRGB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.7% | -54.9% | -2.5% |
| FCF Margin | ROE | ROA |
| -2.4% | -483.3% | -2.5% |
Analysis
As GoodWhale, we have performed an analysis of RED ROBIN GOURMET BURGERS’ fundamentals and have determined that the company has an intermediate health score of 6/10 considering its cash flows and debt. We believe that RED ROBIN GOURMET BURGERS is likely to pay off its debt and fund future operations. When it comes to its key financial metrics, RED ROBIN GOURMET BURGERS is strong in liquidity, medium in profitability and weak in asset, dividend, and growth. Therefore, investors who are interested in companies that have achieved moderate growth and are looking for steady but lower returns may be interested in investing in RED ROBIN GOURMET BURGERS. More…
Peers
Alsea SAB de CV, Arcos Dorados Holdings Inc, and Papa John’s International Inc are all companies that specialize in different types of food, but all three are competitors of Red Robin Gourmet Burgers Inc.
– Alsea SAB de CV ($OTCPK:ALSSF)
Alsea SAB de CV is a Mexico-based company engaged in the food and beverage industry. It operates through four segments: Restaurants, Food Service, Retail and Others. The Company’s restaurant brands include Starbucks, Domino’s Pizza, Burger King, The Cheesecake Factory, California Pizza Kitchen, among others. The Food Service segment provides food service to companies and institutions. The Retail segment offers a range of food and non-food products through stores, such as Walmart, Soriana, Chedraui, Comercial Mexicana, Costco and Sam’s Club, among others. The Others segment comprises of Alsea’s Digital business, which provides e-commerce and technology solutions, as well as its Fresh business, which supplies fresh food products to restaurants and food service customers.
– Arcos Dorados Holdings Inc ($NYSE:ARCO)
Arcos Dorados Holdings Inc is a holding company for McDonald’s restaurants in Latin America and the Caribbean. The company has a market cap of 1.48B as of 2022 and a Return on Equity of 60.96%. Arcos Dorados operates over 2,200 McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean.
– Papa John’s International Inc ($NASDAQ:PZZA)
Papa John’s International Inc is a pizza chain with over 3,300 locations in 44 countries. The company was founded in 1984 and is headquartered in Louisville, Kentucky. Papa John’s has a market cap of $3.08 billion and a return on equity of -26.94%. The company’s revenue and net income have both declined in recent years, and its stock price has been volatile.
Summary
RED ROBIN GOURMET BURGERS reported its earnings results for Q2 of FY2023, with total revenue increasing 1.6% from the year prior to USD 298.6 million and net income rising by 121.9% to USD 3.9 million. Despite these strong figures, the stock price fell on the same day, indicating that investors were disappointed by the results. Analysts will likely be closely monitoring the company for future performance to determine if the downturn was an isolated incident or a sign of a larger trend.
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