FAT Brands (FAT) Q4 Earnings Miss, Revenues Beat, Comps Decline [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
The top and the bottom lines increased on a year-over-year basis. The company's quarterly results reflect an uptrend in the top line, attributable to an increase in system-wide sales and new restaurant openings. Solid franchisee interest in development opportunities has increased the company's total pipeline to 1,100 units, including more than 225 development agreements signed in 2023. Also, the acquisition of Smokey Bones early in the fourth quarter has grown the FAT Brands portfolio to 18 iconic restaurant brands with annualized system-wide sales of $2.5 billion. However, declining comps and increasing costs and expenses partially offset the positive impacts of the above-mentioned tailwinds. Nonetheless, the company is optimistic about moving into 2024 thanks to its strong brand management platform. It believes that this platform positions it well to efficiently integrate new brands while maintaining a healthy and evolving pipeline for organic growth. Inside the Headlines
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News
- FAT Brands First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
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- FAT Brands (FAT) Inks Deal to Expand Fazoli's Reach in Canada [Yahoo! Finance]Yahoo! Finance
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