Good Times Restaurants Q2 revenue up 3.5% to $34.8M; net income $10.6M includes $10M tax benefit

Good Times Restaurants Inc.

2023-Q2 EPS reported $0.88 revenue$68,179,000

Total revenue $34.8M (+3.5% YoY); Bad Daddy's same-store sales +4.6%, Good Times +7.6%.
Net income attributable to common shareholders $10.6M, includes $10.0M income tax benefit; Adjusted EBITDA $1.5M.
Cash $5.4M, no long-term debt; amended credit facility with Cadence Bank extended for 5 years.
Construction began on new Bad Daddy's in Huntsville, AL; expected late summer opening.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Good Times Restaurants Inc. reported second fiscal quarter ended March 28, 2023 results: revenue $34.8 million, net income $10.6 million.

Period: second fiscal quarter ended March 28, 2023
Revenue: $34.8 million
Net income: $10.6 million
Result: reported results

Exact text from the filing

Key highlights of the Company’s financial results include: · Total Revenues for the quarter increased 3.5% to $34.8 million compared to fiscal 2022 second quarter · Total Restaurant Sales for Bad Daddy’s restaurants were $26.3 million for the quarter · Same Store Sales 1 for company-owned Bad Daddy’s restaurants increased 4.6% for the quarter · Total Restaurant Sales for Good Times restaurants were $8.2 million for the quarter · Same Store Sales for company-owned Good Times restaurants increased 7.6% for the quarter · Net Income Attributable to Common Shareholders was $10.6 million for the quarter, including a $10.0 million income tax benefit · Adjusted EBITDA 2 (a non-GAAP measure) for the quarter was $1.5 million · The Company ended the quarter with $5.4 million in cash and no long-term debt

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Source: SEC EDGAR

accession 0001214659-23-006698

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