文章核心观点 - Red Robin公司在2024年第二季度的每股亏损为0.48美元,低于市场预期的0.41美元亏损 [1] - 公司营收为3.0015亿美元,超出市场预期 [3] - 公司股价今年以来下跌59.5%,低于标普500指数17.8%的涨幅 [4] - 分析师预计公司未来业绩表现将低于市场,给予卖出评级 [8] 公司表现总结 - 2024年第二季度每股亏损0.48美元,高于去年同期的0.24美元亏损 [1] - 这一季度的每股亏损结果低于市场预期的0.41美元亏损,为-17.07%的业绩惊喜 [2] - 过去4个季度,公司只有1次超出了共识每股收益预期 [2] - 2024年第二季度营收为3.0015亿美元,超出市场预期1.55%,但同比增长仅1.1% [3] - 过去4个季度,公司有2次超出了共识营收预期 [3] 行业表现总结 - 零售-餐饮行业目前在250多个扎克斯行业中排名靠后36%,历史数据显示排名靠前50%的行业相比靠后50%的行业业绩要好2倍以上 [10] - 同行Dave & Buster's公司预计2024年第三季度每股收益为0.96美元,同比增长2.1%,营收为5.695亿美元,同比增长5.1% [12]

财务表现 - 总收入为3.002亿美元，同比增长0.5%[59] - 同店销售额同比下降0.8%，但包含忠诚度计划变更的递延收益后同比增长1.4%[59] - 净亏损950万美元，上年同期净利润390万美元[59] - 调整后EBITDA为1180万美元，上年同期为1550万美元[59] - 餐厅营业成本占餐厅收入的88.1%，同比上升0.8个百分点[68] - 销售、一般及管理费用占总收入的9.5%，同比上升0.5个百分点[68] - 利息费用占总收入的1.7%，同比下降0.6个百分点[69] 餐厅运营 - 公司拥有411家自营餐厅和92家特许经营餐厅，共503家餐厅[60] - 餐厅收入在2024财年第二季度增加120万美元，增幅为0.4%，主要由于公司忠诚度计划变更带来的利益[72] - 剔除忠诚度计划变更的影响后，可比餐厅收入下降0.8%[72] - 可比餐厅收入反映客流量下降6.7%，平均客单价上升5.9%[72] - 平均客单价上升主要由于菜单价格上涨7.6%，部分被菜品组合下降0.9%和折扣下降0.8%所抵消[72] - 餐厅收入在2024财年前28周下降3.9%，主要由于可比餐厅收入下降4.0%[72] - 可比餐厅收入下降主要由于客流量下降8.3%，部分被平均客单价上升4.3%所抵消[72] - 特许经营收入在2024财年第二季度增加21.0%，主要由于特许经营商缴费增加[72] - 成本销售占餐厅收入的比重在2024财年第二季度和前28周分别下降0.7个百分点，主要由于菜单价格上涨和成本节约措施实施[74][75] - 公司在第一半年度未开设新餐厅或推出任何Donatos门店[89] - 餐厅收入为2.945亿美元,同比增长0.4%[92] - 餐厅运营成本中,食品成本下降2.8%,人工成本上升3.8%[92] - 餐厅营业利润为3,480万美元,同比下降5.7%[93] 财务状况 - 利息费用下降1.4百万美元,主要由于在2023财年第二季度后偿还了29.6百万美元的债务[90] - 2024财年第二季度和2023财年第二季度的有效税率分别为0.4%的税收抵免和3.8%的税收费用[91] - 2024财年第二季度和2023财年第二季度的调整后每股收益分别为-0.47美元和-0.24美元[99] - 2024财年前28周和2023财年前28周的调整后EBITDA分别为2.4014亿美元和5.1454亿美元[102] - 2024财年第二季度和2023财年第二季度的营业利润率分别为-1.5%和3.4%[104] - 公司2024财年前28周的营业利润率为-1.5%和2.0%[107] - 公司2024财年前28周的餐厅营业利润率为11.8%和13.8%[107] - 公司2024财年前28周的资本支出为13,856,000美元,主要用于餐厅改造和技术基础设施[111] - 公司2024财年前28周的经营活动现金流为14,246,000美元,较上年同期下降4,000,000美元[110] - 公司2024财年前28周的投资活动现金流为9,415,000美元,较上年同期增加9,500,000美元[111] - 公司2024财年前28周的融资活动现金流为-24,097,000美元,较上年同期增加4,000,000美元[112] - 公司于2024年8月21日与银行签订了第二次修订的信用协议,放宽了财务指标要求,增加了可用信贷额度[113][114] - 公司截至2024年7月14日拥有48,100,000美元的流动性,包括31,100,000美元的现金和25,000,000美元的未使用信贷额度[109] - 公司截至2024年7月14日已回购1,088,588股股票,剩余可回购额度为58,500,000美元[116] 风险因素 - 公司业务存在季节性波动,销售额通常在春季和冬季节假期期间较高[117] - 公司持续监控利率风险并可能使用利率掉期等工具来管理与借款相关的利率变动风险[121] - 截至2024年7月14日，公司有1.679亿美元的浮动利率借款，利率每变动1%会导致年化利息费用波动170万美元[121] - 食品和饮料成本每增加1%会导致年化销售成本增加300万美元[121] - 公司可能无法通过提高菜单价格或调整菜品来应对商品价格上涨[121]

财务表现 - 总收入为3.002亿美元，同比增加150万美元[2] - 可比餐厅收入在扣除忠诚度计划变更带来的递延收益影响后下降0.8%，包含该影响后增长1.4%[4] - 净亏损950万美元，上年同期净利润390万美元[4] - 调整后EBITDA为1180万美元，上年同期为1550万美元[4] - 公司总收入为3.002亿美元，同比下降0.5%[20] - 餐厅收入为2.945亿美元，同比增长0.4%[20] - 特许经营收入为4,287万美元，同比增长20.9%[20] - 餐厅运营成本中的食品成本为6,944万美元，同比下降2.7%[20] - 餐厅运营成本中的人工成本为1.139亿美元，同比增长3.9%[20] - 公司营业亏损为456.1万美元[21] - 公司净亏损为948.9万美元，每股亏损0.61美元[22] - 公司2023年第三季度总收入为298.5亿美元，同比下降3.6%[34] - 餐厅层面的营业利润率为11.8%[35] - 2023年第三季度净亏损为9.489亿美元[36] - 2023年第三季度EBITDA为8.87亿美元[36] - 2023年第三季度调整后EBITDA为11.801亿美元[37] 财务状况 - 公司现金及现金等价物为2.314亿美元[24] - 公司总资产为6.891亿美元，较上年末下降7.1%[24] - 公司总负债为7.257亿美元，较上年末下降4.8%[25] 其他重要事项 - 在第二季度结束后，公司修订了信贷协议,放宽了财务契约要求,扩大了循环信贷额度[11] - 2024财年总收入预计约为12.5亿美元，餐厅营运利润率11.0%至11.5%，调整后EBITDA4000万美元至4500万美元[14] - 2024财年资本支出预计为2500万美元至3000万美元[14] - 过去3个月内,可比餐厅收入已经恢复到略有正增长[9] - 顾客满意度指标已经达到2016年以来的最高水平,流量增长与行业平均水平持平[9] - 2023年第三季度出现1.128亿美元的资产减值[37] - 2023年第三季度有0.356亿美元的诉讼准备金[37] - 2023年第三季度有0.423亿美元的餐厅关闭成本[37] - 2023年第三季度有0.137亿美元的裁员和高管过渡费用[37] - 2023年第三季度出现0.825亿美元的资产处置和其他净损失[37]

Announces Credit Agreement Amendment Updates Full Year Guidance ENGLEWOOD, Colo., Aug. 22, 2024 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the fiscal second quarter ended July 14, 2024. Highlights for the Second Quarter of Fiscal 2024, Compared to the Second Quarter of Fiscal 2023: Total reven ...

Analysts on Wall Street project that Red Robin (RRGB) will announce quarterly loss of $0.41 per share in its forthcoming report, representing a decline of 70.8% year over year. Revenues are projected to reach $295.57 million, declining 1% from the same quarter last year. The consensus EPS estimate for the quarter has been revised 3.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe ...

Red Robin Gourmet Burgers, Inc.'s (RRGB) loss is likely to widen year over year when the company reports second-quarter fiscal 2024 results. In the last reported quarter, the company delivered a negative earnings surprise of 95.1%. How are Estimates Placed? The Zacks Consensus Estimate is pegged at a loss of 41 cents per share. In the prior-year quarter, RRGB reported a loss per share of 24 cents. The consensus mark for revenues is pegged at $295.6 million, suggesting a drop of 1% year over year. Let's look ...

ENGLEWOOD, Colo., Aug. 12, 2024 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced it will release financial results for its fiscal second quarter 2024 on Thursday, August 22, 2024, after the market close, followed by a conference call to discuss these results at 4:30 p.m. ET. The conference call can be accessed live over ...

The market expects Red Robin (RRGB) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the ...

I updated the reverse DCF model to show what markets are now pricing in for the stock. With the lower stock price, a more modest sales recovery is expected with some elevation in 2025 and 2026. The EBIT margin is expected to rise into 3.0%, down from the previous 4.0% estimate. The margin leverage still estimates very good improvements. The cash flow conversion should still be good with capital expenditures largely being put on halt. Red Robin's Bleak Q1 Financials Takeaway Red Robin Gourmet Burgers, Inc. ( ...

Red Robin reported first-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Earnings missed the consensus estimate for the second straight quarter. As of Apr 21, 2024, Red Robin had cash and cash equivalents of $30.6 million compared with $23.6 million as of Dec 31, 2023. Long-term debt, as of Apr 21, 2024, was $162 million compared with $182.6 million in the prior-year quarter. Inventories in the quarter were $27.1 million compared with $26.8 million in the previo ...