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8-K filed August 3, 2023, 7:59 PM ET ticker FATAQ CIK 0001705012

earnings confidence high sentiment positive materiality 0.70

FAT Brands Q2 revenue up 4% to $106.8M; adjusted net income $0.08/share; Twin Peaks IPO planned 2024

Fat Brands, Inc

2023-Q2 EPS reported -$2.58 revenue$212,455,000

Revenue $106.8M (+4% YoY); net loss $7.1M ($0.53 loss) vs $8.2M loss year ago.
Adjusted EBITDA $23.1M down from $29.5M; adjusted net income $3.0M ($0.08) vs adjusted loss $0.29.
Opened 25 new stores in Q2, 66 YTD; on track for 175 in 2023; development pipeline over 1,100 agreements.
Twin Peaks: plans 18-20 new lodges in 2023; intends IPO in 2024 subject to market conditions.
G&A expenses fell 52% due to $12.7M ERC reversal; dividends raised to $0.14/share.

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 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

pipeline will fuel organic growth for many years to come and will naturally deleverage our balance sheet.” Fiscal Second Quarter 2023 Highlights • Total revenue improved 4% to $106.8 million compared to $102.8 million in the fiscal second quarter of 2022 ◦ System-wide sales growth of 1.7% in the fiscal second quarter of 2023 compared to the prior year fiscal quarter

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

Total revenue improved 4% to $106.8 million compared to $102.8 million in the fiscal second quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

Net loss of $7.1 million, or $0.53 per diluted share, compared to $8.2 million, or $0.60 per diluted share, in the fiscal second quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

Adjusted net income (1) of $3.0 million, or $0.08 per diluted share, compared to adjusted net loss of $3.1 million, or $0.29 per diluted share, in the fiscal second quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

Adjusted EBITDA (1) of $23.1 million compared to $29.5 million in the fiscal second quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal second quarter ended June 25, 2023 results: revenue $106.8 million, net income Net loss of $7.1 million, EPS $0.53 per diluted share.

Period: fiscal second quarter ended June 25, 2023
Revenue: $106.8 million
Net income: Net loss of $7.1 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

Total revenue increased $4.0 million, or 3.9%, in the second quarter of 2023 to $106.8 million compared to $102.8 million in the same period of 2022

View on SEC.gov

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Source: SEC EDGAR

accession 0001628280-23-027200

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