FAT Brands Q3 revenue up 6% to $109.4M; net loss widens to $24.7M

Fat Brands, Inc

2023-Q3 EPS reported -$4.17 revenue$321,821,000

Revenue $109.4M (+6% YoY) driven by 4.8% royalty growth and 228.5% franchise fee increase.
Net loss $24.7M ($1.59 diluted loss) vs $23.4M ($1.52) in Q3 2022; adjusted net loss $17.1M ($1.14).
Adjusted EBITDA $21.9M vs $24.6M a year ago; 30 new store openings in Q3, 96 YTD.
System-wide sales growth 0.8%; year-to-date same-store sales up 1.3%.
Declared $0.14 per common share dividend (unchanged); acquired Smokey Bones early Q4.

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 third quarter ended September 24, 2023 results: revenue $109.4 million, net income Net loss of $24.7 million, or $1.59 per diluted share, EPS $1.59 per diluted share.

Period: the fiscal third quarter ended September 24, 2023
Revenue: $109.4 million
Net income: Net loss of $24.7 million, or $1.59 per diluted share
EPS: $1.59 per diluted share
Result: reported results

Exact text from the filing

strengths position us for continued growth in the future, which will help deleverage our balance sheet.” Fiscal Third Quarter 2023 Highlights • Total revenue improved 6.0% to $109.4 million compared to $103.2 million in the fiscal third quarter of 2022 ◦ System-wide sales growth of 0.8% in the fiscal third quarter of 2023 compared to the prior year fiscal quarter ◦

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Source: SEC EDGAR

accession 0001628280-23-035307

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