Red Robin Files Q1 2024 10-Q
Ticker: RRGB · Form: 10-Q · Filed: May 29, 2024 · CIK: 1171759
Sentiment: neutral
Topics: 10-Q, earnings, restaurant
TL;DR
Red Robin's Q1 24 10-Q is in. Check financials.
AI Summary
Red Robin Gourmet Burgers Inc. filed its 10-Q for the period ending April 21, 2024. The filing details financial performance and operational updates for the first quarter of fiscal year 2024. Key financial data and business segment information are presented.
Why It Matters
This filing provides investors with the latest financial snapshot of Red Robin, crucial for understanding the company's performance and outlook in the competitive restaurant industry.
Risk Assessment
Risk Level: medium — As a publicly traded company in the restaurant sector, Red Robin faces inherent market, operational, and economic risks detailed in its SEC filings.
Key Numbers
- 2024-04-21 — Reporting Period End (End of the first fiscal quarter of 2024.)
- 2024-05-29 — Filing Date (Date the 10-Q was submitted to the SEC.)
- 2023-12-31 — Previous Year End (Balance sheet information as of the end of fiscal year 2023.)
Key Players & Entities
- RED ROBIN GOURMET BURGERS INC (company) — Filer
- 20240421 (date) — Reporting Period End Date
- 20240529 (date) — Filing Date
- 10000 EAST GEDDES AVENUE SUITE 500 (address) — Business and Mail Address
- ENGLEWOOD, CO 80112 (address) — Business and Mail City, State, Zip
FAQ
What was Red Robin's reporting period for this 10-Q filing?
The reporting period for this 10-Q filing was April 21, 2024.
What is the company's primary business address?
The company's business address is 10000 East Geddes Avenue, Suite 500, Englewood, CO 80112.
What is the SEC file number for Red Robin?
The SEC file number for Red Robin is 001-34851.
What fiscal year end does Red Robin observe?
Red Robin's fiscal year ends on December 29th.
What SIC code is associated with Red Robin?
Red Robin is associated with SIC code 5812, which falls under RETAIL-EATING PLACES.
Filing Stats: 4,686 words · 19 min read · ~16 pages · Grade level 16.6 · Accepted 2024-05-29 17:02:13
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value RRGB Nasdaq (Global Select M
Filing Documents
- rrgb-20240421.htm (10-Q) — 933KB
- rrgb-20240421xex311.htm (EX-31.1) — 10KB
- rrgb-20240421xex312.htm (EX-31.2) — 10KB
- rrgb-20240421xex321.htm (EX-32.1) — 8KB
- 0001171759-24-000020.txt ( ) — 4250KB
- rrgb-20240421.xsd (EX-101.SCH) — 27KB
- rrgb-20240421_cal.xml (EX-101.CAL) — 57KB
- rrgb-20240421_def.xml (EX-101.DEF) — 109KB
- rrgb-20240421_lab.xml (EX-101.LAB) — 390KB
- rrgb-20240421_pre.xml (EX-101.PRE) — 267KB
- rrgb-20240421_htm.xml (XML) — 469KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION I TEM 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Stockholders' Equity (Deficit) 3 Condensed Consolidated Statements of Cash Flows 4 Notes to the Condensed Consolidated Financial Statements 5 I TEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 13 I TEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 I TE M 4.
Controls and Procedures
Controls and Procedures 29
- OTHER INFORMATION
PART II - OTHER INFORMATION I TE M 1.
Legal Proceedings
Legal Proceedings 30 I TEM 1A.
Risk Factors
Risk Factors 30 I TEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 I TEM 5. Other Information 35 I TEM 6. Exhibits 32 Signature 33 i Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (unaudited)
ITEM 1. Financial Statements (unaudited) RED ROBIN GOURMET BURGERS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except for per share amounts) April 21, 2024 December 31, 2023 Assets: Current assets: Cash and cash equivalents $ 30,594 $ 23,634 Accounts receivable, net 13,949 21,592 Inventories 27,144 26,839 Prepaid expenses and other current assets 13,623 11,785 Restricted cash 7,958 7,931 Total current assets 93,268 91,781 Property and equipment, net 233,525 261,258 Operating lease assets, net 361,934 361,609 Intangible assets, net 15,584 15,491 Other assets, net 12,775 11,795 Total assets $ 717,086 $ 741,934 Liabilities and stockholders ' equity (deficit): Current liabilities: Accounts payable $ 31,347 $ 27,726 Accrued payroll and payroll-related liabilities 37,754 32,524 Unearned revenue 24,673 36,067 Current portion of operating lease obligations 51,862 43,819 Accrued liabilities and other 52,007 46,201 Total current liabilities 197,643 186,337 Long-term debt 161,961 182,594 Long-term portion of operating lease obligations 376,660 383,439 Other non-current liabilities 9,923 10,006 Total liabilities 746,187 762,376 Commitments and contingencies (see Note 8. Commitments and Contingencies) Stockholders' equity (deficit): Common stock; $ 0.001 par value: 45,000 shares authorized; 20,449 shares issued; 15,612 and 15,528 shares outstanding as of April 21, 2024 and December 31, 2023 20 20 Preferred stock, $ 0.001 par value: 3,000 shares authorized; no shares issued and outstanding as of April 21, 2024 and December 31, 2023 — — Treasury stock 4,837 and 4,921 shares, at cost, as of April 21, 2024 and December 31, 2023 ( 171,691 ) ( 174,702 ) Paid-in capital 227,488 229,680 Accumulated other comprehensive loss, net of tax ( 40 ) ( 22 ) Accumulated deficit ( 84,878 ) ( 75,418 ) Total stockholders' equity (deficit) ( 29,101 ) ( 20,442 ) Total liabilities and stockholders' equity (deficit) $ 717,086 $ 7