FAT Brands Q1 rev $105.7M, net loss $1.95/sh, appoints co-CEOs

Fat Brands, Inc

2023-Q1 EPS reported -$1.95 revenue$105,691,000

Revenue $105.7M (+8.5% YoY); net loss $32.1M ($1.95/diluted) vs $23.8M ($1.45/diluted) year ago.
Adjusted EBITDA $19.2M vs $15.1M; adjusted net loss $23.5M ($1.43/diluted) vs $18.5M ($1.13/diluted).
System-wide same-store sales up 4.3% YoY; opened 41 new units in Q1, plans 175 for FY 2023.
G&A expense up 14.8% due to professional fees for pending litigation and government investigations.
Appoints Ken Kuick and Rob (last name not given) as Co-CEOs; Andy Wiederhorn remains Chairman.

item 2.02 item 7.01 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

Fat Brands, Inc reported the fiscal first quarter ended March 26, 2023 results: revenue $105.7 million, net income Net loss of $32.1 million, EPS $1.95 per diluted share.

Period: the fiscal first quarter ended March 26, 2023
Revenue: $105.7 million
Net income: Net loss of $32.1 million
EPS: $1.95 per diluted share
Result: reported results

Exact text from the filing

to our portfolio make-up and debt management, all while providing shareholders with a consistent dividend.” Fiscal First Quarter 2023 Highlights • Total revenue improved 8.5% to $105.7 million compared to $97.4 million in the fiscal first quarter of 2022 ◦ System-wide sales growth of 9.9% in the fiscal first quarter of 2023 compared to the prior year fiscal quarter ◦

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Source: SEC EDGAR

accession 0001628280-23-016404

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