DivestmentAug 12, 2026, 04:39 PM
Red Robin to Refranchise 116 Restaurants for $96M; Q2 Net Income $0.39M
AI Summary
Red Robin Gourmet Burgers announced plans to refranchise 116 company-owned restaurants for an aggregate consideration of $96 million, with proceeds intended for debt repayment and general corporate purposes. The company also completed sale-leaseback transactions for two properties, generating a $0.9 million gain on one and a $1.1 million impairment on the other. For the second quarter of 2026, Red Robin reported a net income of $0.39 million on total revenues of $277.64 million, both down year-over-year.
Key Highlights
- Pending refranchising of 116 company-owned restaurants for an aggregate consideration of $96 million.
- Completed sale-leaseback transactions for two properties, resulting in a $0.9 million gain on one and a $1.1 million impairment on the other.
- Q2 2026 net income was $0.39 million, down from $3.99 million in Q2 2025.
- Q2 2026 total revenues were $277.64 million, a decrease from $283.70 million in Q2 2025.
- Q2 2026 basic earnings per share was $0.02, down from $0.22 in Q2 2025.
- For the twenty-eight weeks ended July 12, 2026, the company reported a net loss of $1.79 million, compared to net income of $5.24 million in the prior year period.
- Total current assets increased to $129.43 million from $88.94 million since December 28, 2025, primarily due to $53.79 million in current assets held for sale.
- Total liabilities decreased to $634.30 million from $669.88 million since December 28, 2025.
Price Impact
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