Welcome to our dedicated page for FAT Brands news (Ticker: FAT), a resource for investors and traders seeking the latest updates and insights on FAT Brands stock.
FAT Brands Inc. (symbol: FAT) is a prominent global player in the restaurant franchising industry. The company specializes in developing, marketing, and acquiring diverse restaurant concepts on an international scale. With a portfolio that includes Fatburger, Buffalo’s Cafe, Buffalo's Express, and Ponderosa & Bonanza Steakhouse among others, FAT Brands operates over 300 locations worldwide.
The company's business model primarily revolves around franchising. FAT Brands generates revenue by charging franchisees initial franchise fees and ongoing royalties. Although the company generally does not own or operate the restaurant locations, it does directly own and operate some units for specific brands.
FAT Brands is dedicated to providing comprehensive support to its franchisees, thereby ensuring their success. Their in-house support teams – spanning operations, construction, purchasing, architecture & design, kitchen design, training, logistics, and marketing – bring a wealth of experience and dedication to the table. This allows franchisees to operate their businesses with a high degree of independence while still benefiting from the company's extensive resources.
The company’s strategically aligned restaurant concepts offer franchisees opportunities for sustained growth and diversification. This approach enables franchisees to develop within multiple brands and industry segments, thereby enriching their portfolio.
Some of the well-known brands under the FAT Brands umbrella include Round Table Pizza, Johnny Rockets, Twin Peaks, and Elevation Burger. The majority of FAT Brands' revenue is generated from the United States, with the rest coming from other countries.
Recent Achievements and News:
- FAT Brands Inc. has recently released its consolidated statements of operations, EBITDA, and adjusted EBITDA reconciliation.
- Notable partnerships and media engagements include representation by Erin Mandzik in media relations and investor relations.
- Ongoing projects include expansion into new geographical territories and enhancement of existing restaurant concepts.
FAT Brands Inc. continues to thrive by leveraging its multi-brand strategy and commitment to franchisee success, maintaining its position as a leading force in the global franchising market.
FAT Brands has announced the redemption of 1,821,831 shares of its 8.25% Series B Cumulative Preferred Stock for $43.2 million. The redemption price was $23.69 per share, plus accrued dividends. The move is expected to generate significant cash flow savings for the company, as its new securitization facility offers a lower cost of capital compared to the dividend rate on the redeemed stock. This strategic decision reflects FAT Brands’ focus on improving its financial position and operational efficiency.
FAT Brands Inc. reported a fiscal Q3 2022 revenue of $103.2 million, a 247% increase from $29.8 million in Q3 2021. System-wide sales grew by 57% year-over-year, with 38 new store openings, exceeding the year-to-date milestone of 100 openings. Despite strong revenue growth, the company faced a net loss of $23.4 million, or $1.42 per diluted share. Adjusted EBITDA improved to $24.6 million compared to $7.2 million in the previous year. Looking forward, FAT anticipates opening over 130 new units in 2023 and has a pipeline of over 1,000 new franchise agreements.
FAT Brands Inc. (NASDAQ: FAT), a prominent global franchising company, has announced its participation in The ThinkEquity Conference on October 26, 2022, at the Mandarin Oriental Hotel in New York. CEO Andy Wiederhorn will present at 11:30 AM ET, and the company will conduct one-on-one investor meetings during the event. A live webcast of the presentation will be accessible on the Company's Investor Relations website. FAT Brands operates 17 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 locations worldwide.
FAT Brands (NASDAQ: FAT) will host a conference call on October 20, 2022, at 5:00 PM ET to discuss third quarter 2022 financial results. The call will be led by Andy Wiederhorn, President and CEO, and Ken Kuick, CFO. A press release with the financial results will precede the call. Live access is available at 1-877-704-4453 in the U.S. and 1-201-389-0920 internationally, with a replay until October 27, 2022. The call will also be webcast on the corporate website under the “Investors” section.
FAT Brands announces the opening of the first co-branded Johnny Rockets and Hurricane Wings restaurant in Washington D.C. Located in the Holiday Inn Washington-Central/White House, this venue combines the classic offerings of Johnny Rockets with a variety of wing flavors from Hurricane Wings. Known for its burgers and shakes, Johnny Rockets has over 325 locations globally. The new spot is set to cater to both hotel guests and locals, emphasizing the synergy between burger and wing menus. The restaurant operates daily with extended hours on weekends.
FAT Brands announces the launch of three new franchised locations of Fatburger and Buffalo’s Express in Atlanta, Georgia. This development deal, in collaboration with franchisee Deidre Brown, marks a significant milestone for both brands. The first location is set to open by the end of 2023, expanding the existing presence of Buffalo’s Cafe in the area. FAT Brands operates 17 restaurant concepts and has over 2,300 units globally, focusing on providing a diverse menu including custom burgers and various wing options.
FAT Brands has opened its first Round Table Pizza location in San Antonio, Texas, marking the fourth in the state and building on the success seen in Dallas. The restaurant features a range of offerings, including handmade pizzas, salads, and wings. President Jenn Johnston emphasized the demand for quality pizza in larger metropolitan areas like San Antonio. The San Antonio location is strategically positioned at 842 NW Loop 410, Suite 110, and is open daily with varying hours. FAT Brands currently operates 17 restaurant brands and over 2,300 units worldwide.
FAT Brands Inc. has announced a development deal to open six new co-branded Fatburger and Buffalo’s Express locations in Sacramento over the next six years. This partnership with franchisee Raj Pooni aims to strengthen the brand's presence in California’s capital, with the first store expected to launch by the end of 2023. The expansion reflects FAT Brands' growth strategy through franchisee diversification, enhancing their market footprint while offering a diverse menu of burgers and wings.
FAT Brands has announced the opening of its first Fatburger and Buffalo’s Express location in Kinshasa, Democratic Republic of Congo. This marks an expansion in Africa, joining existing locations in Tunisia and Marrakesh. COO Jake Berchtold highlighted the growing popularity of American cuisine in Africa and sees Kinshasa as a strategic market. The new restaurant is located at 8 Port Avenue, Gombe, Kinshasa, operating daily from 11:00 a.m. to 10:00 p.m. FAT Brands owns 17 restaurant brands and operates over 2,300 units globally.
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