Red Robin Q1 Revenue Falls 3.6% to $378.3M as Margin Improves to 14.8%
Red Robin reported first-quarter revenue of $378.3 million, down from $392.4 million, with comparable restaurant sales declining 0.6% due to a 1.6% drop in guest traffic and a 1.0% increase in average check. Net loss was $2.2 million while restaurant-level operating profit margin rose by 50 basis points to 14.8%.
1. Q1 Financial Results
Red Robin’s first quarter revenue was $378.3 million, down from $392.4 million year over year, with comparable restaurant sales declining 0.6% driven by a 1.6% traffic drop and 1.0% higher average checks. Net loss was $2.2 million and adjusted EBITDA totaled $27.3 million, while restaurant-level operating profit margin rose to 14.8%.
2. Operational Drivers
The company cited its First Choice strategic plan, highlighting the menu overhaul emphasizing innovation and value, and targeted marketing investments behind the Big Yummm platform. Labor efficiency measures and simplified execution empowered managing partners, boosting restaurant-level profit by offsetting inflationary costs.
3. Balance Sheet
As of April 19, 2026, Red Robin had outstanding borrowings of $175.7 million under its credit facility and approximately $40.8 million in liquidity, including cash and available borrowing capacity.
4. Guidance Reaffirmed
Red Robin reaffirmed fiscal 2026 guidance with comparable restaurant revenue growth of 0.5% to 1.5%, restaurant-level operating profit around 13%, adjusted EBITDA of $70-73 million, and capital expenditures of $25-30 million.