secwatch.observer — SEC 8-K summary
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Issuer:     Fat Brands, Inc (FATAQ)
CIK:        0001705012
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001628280-24-033747
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FAT Brands Q2 revenue up 42% to $152.0M but net loss widens to $39.4M ($2.43/sh); adj. net loss $30.9M
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- Total revenue $152.0M, +42.4% YoY from $106.8M, driven by Smokey Bones acquisition and new openings.
- Net loss $39.4M ($2.43 diluted EPS) vs net loss $7.1M ($0.53) in Q2 2023; adjusted net loss $30.9M ($1.93) vs adj. net income $3.0M ($0.08).
- Adjusted EBITDA $15.7M vs $23.1M in prior-year quarter; interest expense rose to $34.0M from $24.3M.
- Opened 24 new restaurants in Q2 (45 YTD); signed over 180 development deals YTD vs 226 in all of 2023.
- System-wide same-store sales declined 1.6% YTD; Twin Peaks plans 12-15 new lodges in H2 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1705012/000162828024033747/0001628280-24-033747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1705012/000162828024033747/fat-20240731.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-033747

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer