Shares of Crimson Robin Connoisseur Burgers (NASDAQ:RRGB) have fallen by as a lot as 14% in Wednesday’s after-hours commerce on the heels of disappointing Q4 results that included a below-consensus forecast for 2024 gross sales.
The restaurant chain reported a narrower lack of $0.66 per share versus a lack of $1.38 per share in the identical quarter final 12 months, on a 6% improve in gross sales to $309M. Whole income in 2023 included an additional week of gross sales.
This compares to Street estimates calling for a lack of $0.46 per share on $305M in gross sales.
Comparable restaurant gross sales have been down 2.7% whereas labor prices have been up 14%. Adjusted EBITDA elevated 26% to $10.6M.
Revenue loss from operations as a share of revenues narrowed to (2.6%) from (13.8%) whereas restaurant degree revenue margin jumped to 22.2% from 11.3% in the identical quarter final 12 months.
Money and money equivalents declined 52% to $23.6M
Wanting ahead to 2024, the corporate initiatives gross sales to be between $1.250B to $1.275B, shy of the consensus estimate of $1.28B and down from $1.30B in 2023.
Restaurant degree working revenue is forecasted to be between 12.5% to 13.5% in comparison with 12.9% in 2023.
Adjusted EBITDA will doubtless be between $60M and $70M which compares to $68.9M in 2023.
Shares of Crimson Robin Connoisseur Burgers (NASDAQ:RRGB) have fallen by as a lot as 14% in Wednesday’s after-hours commerce on the heels of disappointing Q4 results that included a below-consensus forecast for 2024 gross sales.
The restaurant chain reported a narrower lack of $0.66 per share versus a lack of $1.38 per share in the identical quarter final 12 months, on a 6% improve in gross sales to $309M. Whole income in 2023 included an additional week of gross sales.
This compares to Street estimates calling for a lack of $0.46 per share on $305M in gross sales.
Comparable restaurant gross sales have been down 2.7% whereas labor prices have been up 14%. Adjusted EBITDA elevated 26% to $10.6M.
Revenue loss from operations as a share of revenues narrowed to (2.6%) from (13.8%) whereas restaurant degree revenue margin jumped to 22.2% from 11.3% in the identical quarter final 12 months.
Money and money equivalents declined 52% to $23.6M
Wanting ahead to 2024, the corporate initiatives gross sales to be between $1.250B to $1.275B, shy of the consensus estimate of $1.28B and down from $1.30B in 2023.
Restaurant degree working revenue is forecasted to be between 12.5% to 13.5% in comparison with 12.9% in 2023.
Adjusted EBITDA will doubtless be between $60M and $70M which compares to $68.9M in 2023.