Fiesta Restaurant Group Inc - FRGI STOCK NEWS

Fiesta Restaurant Group (NASDAQ: FRGI) will host a conference call on May 10, 2023 at 4:30 PM ET to discuss its first quarter 2023 results. A press release will be issued following the market close on the same day. Investors can access the call by dialing 412-542-4158 with a passcode of 4172178, or via a live webcast on their corporate website. A replay of the call will be available until May 17, 2023.

Additionally, Fiesta will participate in the EF Hutton Global Conference in New York City on May 11, 2023, engaging with institutional investors. Those interested in meetings should contact their EF Hutton representatives. Fiesta Restaurant Group operates the Pollo Tropical® brand, known for its fresh cuisine and value.

Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) announced the appointment of Dirk Montgomery as the permanent President and Chief Executive Officer, effective April 13, 2023. Montgomery has been serving as Interim CEO since December 8, 2022 and previously held the role of Chief Financial Officer since September 9, 2019. The Board of Directors believes Montgomery’s extensive knowledge of the Pollo Tropical brand and operations positions him well to lead the company. Since taking the interim role, he has emphasized strategic initiatives to drive transaction growth and margin expansion while enhancing guest experience and operations excellence. This leadership change aims to unlock the growth potential of the brand.

Fiesta Restaurant Group reported a 9.3% revenue increase to $97.6 million for Q4 2022, driven by an 11.0% rise in comparable restaurant sales at Pollo Tropical. The net loss narrowed to $4.1 million, from $4.7 million YoY, while Adjusted EBITDA rose to $6.9 million from $2.5 million. The company experienced positive momentum in early 2023 with transaction growth recovering, particularly in South Florida. Despite operational challenges, including rising commodity costs and impacts from Hurricanes Ian and Nicole, Fiesta aims for an 18% restaurant-level operating margin in 2023. Significant G&A reductions are also being pursued to enhance profitability.

Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) will host a conference call on March 2, 2023 at 4:30 P.M. ET to discuss its fourth quarter and full year 2022 results. A press release with these results will be issued after market close that day. The live call can be accessed by dialing 412-542-4158 or through a link provided in the announcement. A replay will be available until March 9, 2023. Fiesta specializes in the Pollo Tropical® fast-casual restaurant brand and previously operated Taco Cabana® until August 16, 2021.