RED ROBIN GOURMET BURGERS Reports Second Quarter FY2023 Earnings Results
August 24, 2023
🌥️Earnings Overview
RED ROBIN GOURMET BURGERS ($NASDAQ:RRGB) announced its earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter was USD 298.6 million, representing a growth of 1.6% compared to the same quarter last year. Furthermore, net income increased 121.9% to USD 3.9 million year over year.
Price History
This decrease in share price demonstrates the current market sentiment towards the company’s financial performance. The decrease in sales was mainly attributed to a decrease in transactions and customer visits due to the ongoing pandemic.
However, the company was able to increase food costs through improved promotional activities, leading to reduced restaurant-level operating costs. While the company’s financial results may not be as strong as hoped, the stock is still performing relatively well in the market. Investors will be looking to see if RED ROBIN GOURMET BURGERS can maintain its current level of performance in the coming quarters and turn around its business for the better. 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
At GoodWhale, we believe that understanding the fundamentals of an investment is essential before making any investments. That is why we are here to provide an analysis of RED ROBIN GOURMET BURGERS so that you can make an informed decision. Our Risk Rating for RED ROBIN GOURMET BURGERS shows that it is a medium risk investment in terms of financial and business aspects. We have also detected two risk warnings in the income sheet and balance sheet of the company. If you’d like to check them out in more detail, you can do so by registering on goodwhale.com. On our website, you will find a thorough analysis of RED ROBIN GOURMET BURGERS’s financials and other important information which will help you make a sound investment decision. 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 experienced a small increase of 1.6% in total revenue from the same period last year, resulting in a net income surge of 121.9% to USD 3.9 million for the second quarter of FY2023. Despite this, the stock price moved down the same day. Investors should consider taking a closer look at the company’s financials to understand the underlying drivers of this decline.
Such factors can include competition from other burger chains, overall market conditions, and changes in consumer preferences. Furthermore, investors should keep an eye on future earnings results to gain additional insight into the company’s performance.
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