Good Times Restaurants Inc. - GTIM STOCK NEWS

Good Times Restaurants Inc. (GTIM) reported a 5.9% increase in same-store sales for its Good Times brand and a 3.7% increase for Bad Daddy’s in Q4 of fiscal year ending September 27, 2022. Average weekly sales reached $29,896 for Good Times and $49,945 for Bad Daddy’s. Full-year results showed a 1.1% rise for Good Times and 11.2% for Bad Daddy’s. The company noted challenges in staffing but emphasized menu price increases of 7.7% for Good Times and 5.7% for Bad Daddy’s as mitigating factors for low single-digit traffic declines.

Good Times Restaurants reported a 7.5% increase in total revenues to $36.5 million for Q3 2022, compared to the previous year. Year-to-date revenues rose by 13.9% to $103.0 million. Bad Daddy’s restaurant sales grew by $2.8 million to $27.1 million for the quarter, while Good Times sales slightly declined to $9.1 million. Net income for the quarter was $0.5 million, while year-to-date net loss stood at $1.4 million. The company faces challenges including inflationary pressures and ongoing labor costs. No financial forecast has been provided for FY 2022 or FY 2023.

Good Times Restaurants Inc. (GTIM) will host a conference call on August 11, 2022, at 5:00 p.m. ET to discuss third fiscal quarter financial results. The call will feature CEO Ryan Zink and SVP of Finance Matthew Karnes. A press release detailing the financial results will be distributed before the call. Investors can access the call by dialing (888) 210-2831 with Conference ID 3024033. Additionally, a live webcast will be available on the company's website.

Good Times Restaurants Inc. (GTIM) reported a 1.6% increase in same-store sales for its Good Times brand and a 5.3% increase for Bad Daddy’s brand in Q3, ending June 28, 2022. Average weekly sales were $30,411 for Good Times and $52,745 for Bad Daddy’s. CEO Ryan Zink highlighted the completion of digital menu boards in one-third of Good Times locations and ongoing signage improvements. The company faces supply and labor challenges but remains committed to enhancing guest experience and modernizing its brand.

Good Times Restaurants reported a 15.1% increase in total revenues to $33.6 million for Q2 FY22, with Bad Daddy's Burger Bar driving much of this growth, showing a 15.5% same-store sales increase. However, Good Times restaurants saw a 0.9% decline in same-store sales. The company reported a net loss of $2.2 million for the quarter and ended with $7.1 million in cash. CEO Ryan M. Zink highlighted inflationary pressures on costs and indicated an optimistic outlook for future margins. No fiscal 2022 forecast was provided due to uncertainties surrounding COVID-19 and supply chain issues.

Good Times Restaurants Inc. (GTIM) will host a conference call on May 5, 2022, at 5:00 p.m. ET to discuss its second quarter financial results. The call will be led by CEO Ryan Zink and Senior VP of Finance Matthew Karnes.

The call can be accessed by phone at (844) 200-6205, access code 404782, or via live webcast at www.goodtimesburgers.com. An archive will be available post-call.

Good Times Restaurants Inc. (Nasdaq: GTIM) reported a 0.9% decrease in same store sales for Good Times and a 15.5% increase for Bad Daddy's Burger Bar for Q2 ended March 29, 2022. Average weekly sales were $25,469 for Good Times and $50,405 for Bad Daddy's. The company acquired a Bad Daddy's restaurant in Greenville, South Carolina, enhancing its presence in the market. CEO Ryan Zink highlighted the strength of both brands despite industry challenges.

Good Times Restaurants Inc. (GTIM) announced the appointment of Matthew Karnes as Senior Vice President of Finance. Karnes, with 18 years of experience, previously served as Chief Operating and Financial Officer at Denver Economic Development. His role at GTIM aims to strengthen financial operations and strategic decision-making. As part of his inducement compensation, Karnes will receive stock options for 50,000 shares, with specific vesting conditions. GTIM operates 42 Bad Daddy’s Burger Bar locations and 32 Good Times Burgers & Frozen Custard outlets primarily in Colorado.

Good Times Restaurants reported a 20.5% increase in total revenues, reaching $32.9 million for the quarter ending December 28, 2021.

Bad Daddy’s restaurant sales accounted for $24.6 million, with a same-store sales increase of 24.0%. In contrast, Good Times saw a 5.9% decrease in same-store sales, totaling $8.1 million.

The net income attributable to common shareholders was $0.3 million, while adjusted EBITDA was $1.5 million.

The company ended the quarter with $7.6 million in cash and no long-term debt.