FAT Brands (FAT) Reports Q4 Loss of $0.23, Revenues Miss

FAT Brands (NASDAQ: FAT) reported Q4 EPS of ($0.23). Revenue for the quarter came in at $5 million versus the consensus estimate of $5.86 million.

Andy Wiederhorn, President and CEO of FAT Brands, commented, “2018 was our first full year operating with our management platform, which was designed to seamlessly scale with new brand acquisitions. We demonstrated its capability through the smooth integration of both Hurricane Grill & Wings and Yalla Mediterranean into our system. We continue to seek synergistic acquisition opportunities that meet our criteria, where we can leverage our platform to drive efficiencies and growth.”

Fiscal Fourth Quarter 2018 Highlights

• Total revenues of $5.0 million(1)
  • System-wide sales growth of 51.1% y/y
    • United States sales growth of 65.1%
    • Canada sales growth of 8.0%
    • Other International(2) sales growth of 33.6%
  • System-wide same store sales growth of (2.0)% y/y
    • United States same-store sales growth of 0.1%
    • Canada same-store sales growth of 3.5%
    • Other International(2) same-store sales growth of (16.0)%
  • 4 new franchised store openings
    • Ending store count: 334 franchised stores, 7 company owned stores
• Net loss of $2.7 million, or ($0.23) per share on a fully diluted basis
• EBITDA(3) of ($467,000)
• Adjusted EBITDA(3) of $596,000, excluding legal and accounting fees related to acquisitions and other non-recurring legal fees

For earnings history and earnings-related data on FAT Brands (FAT) click here.

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