RRGB - Red Robin Gourmet Burgers Inc. (RRGB) Q1 2024 Earnings Call Transcript
2024-05-29 20:17:05 ET
Red Robin Gourmet Burgers, Inc. (RRGB)
Q1 2024 Results Conference Call
May 29, 2024 04:30 PM ET
Company Participants
G.J. Hart - President and Chief Executive Officer
Todd Wilson - Chief Financial Officer
Conference Call Participants
Mark Smith - Lake Street Capital
Alex Slagle - Jefferies
Andrew Wolf - CL King
CJ Dipollino - Craig-Hallum Capital Group
Todd Brooks - The Benchmark Company
Presentation
Operator
Good afternoon, everyone and welcome to the Red Robin Gourmet Burgers Incorporated First Quarter 2024 Earnings Call. This conference is being recorded.
During management’s presentation and in response to your questions, they will be making forward-looking statements about the company’s business outlook and expectations. These forward-looking statements and all other statements that are not historical facts reflects management’s beliefs and predictions as of today and therefore are subject to risks and uncertainties as described in the company’s SEC filing.
Management will also discuss non-GAAP financial measures as part of today’s conference call. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles, but are intended to illustrate alternative measures of the company’s operating performance that maybe useful. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures can be found in the earnings release. The company has posted its first quarter 2024 earnings release on its website at ir.redrobin.com.
Now, I would like to turn the call over to Red Robin’s President and Chief Executive Officer, G.J. Hart.
G.J. Hart
Good afternoon, everyone, and thank you all for your interest in Red Robin. Almost 18 months ago, we launched our North Star Five-Point plan, grounded in a commitment to a great experience through investments in service and food quality. We expect the investments to deliver gains in sales and profits and drive long-term shareholder value. Due to the hard work and dedication of our team members, we are beginning to reap the rewards of the investments by delivering positive comparable restaurant sales in the first five weeks of our second quarter. We have achieved this result despite the 200-basis point to 250 basis point headwind from the strategic removal of virtual brands last year that we will experience through the second quarter....
Red Robin Gourmet Burgers, Inc. (RRGB) Q1 2024 Earnings Call Transcript