Red Robin Fiscal Q2 2026 Earnings: Restaurant Margin Rises as Revenue and EBITDA Decline

Red Robin’s fiscal Q2 2026 revenue fell approximately 2.1% year over year to $277.6 million, while diluted EPS declined to $0.02 from $0.21. Comparable restaurant revenue rose 1.3% as a 1.5% increase in average check offset a 0.2% traffic decline, and restaurant-level operating margin improved 20 basis points to 14.7%. Higher selling expense contributed to lower operating income and adjusted EBITDA. The company reaffirmed fiscal 2026 guidance and expects $96 million in gross proceeds from pending refranchising agreements covering 116 restaurants.