FAT Brands Q1 revenue up 43.8% to $152M; net loss widens to $38.3M

Fat Brands, Inc

2024-Q1 EPS reported -$2.37 revenue$151,967,000

Total revenue $152.0M (+43.8% YoY) driven by Smokey Bones acquisition; system-wide same-store sales down 4.0%.
Net loss $38.3M ($2.37 diluted EPS) vs. $32.1M ($2.05) year ago; adjusted net loss $32.9M ($2.05).
Adjusted EBITDA $18.2M vs. $19.2M in prior year; EBITDA $9.4M vs. $7.7M.
Signed over 150 development deals; pipeline over 1,200 locations; plan 15-20 new Twin Peaks lodges in 2024.
16 new store openings in Q1; first Smokey Bones conversion to Twin Peaks underway.

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 first quarter ended March 31, 2024 results: net income Net loss of $38.3 million, EPS $2.37 per diluted share.

Period: fiscal first quarter ended March 31, 2024
Net income: Net loss of $38.3 million
EPS: $2.37 per diluted share
Result: reported results

Exact text from the filing

Total revenue improved 43.8% to $152.0 million compared to $105.7 million in the fiscal first quarter of 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fat Brands, Inc reported fiscal first quarter ended March 31, 2024 results: net income Net loss of $38.3 million, EPS $2.37 per diluted share.

Period: fiscal first quarter ended March 31, 2024
Net income: Net loss of $38.3 million
EPS: $2.37 per diluted share
Result: reported results

Exact text from the filing

Net loss of $38.3 million, or $2.37 per diluted share, compared to $32.1 million, or $2.05 per diluted share, in the fiscal first quarter of 2023

View on SEC.gov

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Source: SEC EDGAR

accession 0001628280-24-019608

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