BT Brands authorizes repurchase of 10% of outstanding shares; forecasts improved 2024 results

BT Brands, Inc.

Board approved repurchase of up to 625,000 shares, about 10% of outstanding common stock.
Company expects positive operating cash flow and earnings in second half of 2024.
Restaurant operating profit forecast to improve by ~$1M vs 2023, with restaurant-level EBITDA ~14% of revenue.
Six Bagger Dave's locations to be repurposed to a different concept in H2 2024.
BT Brands plans dissident slate for Noble Roman's board to assist in refinancing 2025 debt.

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