BurgerFi International, Inc. Stock Price, News & Analysis

BURGERFI International (NASDAQ: BFI, BFIIW) announced participation in the Benchmark Company's 11th Annual Discovery One-on-One Investor Conference on December 1, 2022, at the New York Athletic Club. The event allows emerging growth companies to meet with institutional investors through scheduled one-on-one meetings. BurgerFi, known for its fresh, quality food and rapid growth, operates 117 locations across its brands, including BurgerFi and Anthony's Coal Fired Pizza. The company seeks to engage with investors to discuss its expansion and performance in the competitive fast-casual dining sector.

BurgerFi International (Nasdaq: BFI) announced a significant expansion by entering a multi-unit development agreement with NDM Hospitality Services to franchise three Anthony's Coal Fired Pizza locations in Florida over two years. This marks the first franchise for Anthony's and the initial co-branded location with BurgerFi. The first franchise will open in Kissimmee, FL, projected for Spring 2023. This innovative strategy aims to enhance growth through dual-branded concepts, leveraging operational efficiencies and attracting experienced franchisees.

BurgerFi International (NASDAQ: BFI, BFIIW) is set to release its financial results for the third quarter ending October 3, 2022, on November 16, 2022, before the market opens. A conference call will take place at 8:30 a.m. ET to discuss these results, accessible via a toll-free dial-in. BurgerFi, known for its commitment to high-quality ingredients, operates 117 locations across its two dining brands, including BurgerFi and Anthony's Coal Fired Pizza & Wings, which together comprise 178 locations. The company has received multiple accolades for quality and growth.

BurgerFi International and Anthony's Coal Fired Pizza & Wings have launched a "Dine & Donate" initiative to provide aid for Hurricane Ian victims in Southwest Florida. Throughout November, customers can contribute by adding $1 to their checks at BurgerFi or rounding up their bills at Anthony's. Marcum LLP will match donations up to $10,000. This partnership continues their previous collaboration during the COVID-19 pandemic. The funds will be presented to the American Red Cross in December, enhancing community support in challenging times.

BurgerFi is expanding its presence along the Eastern Seaboard with the opening of 10 new locations this year, including 15 Gopuff ghost kitchens. The chain emphasizes high-quality ingredients and a strong customer experience. Franchisee ownership is growing, highlighting their flexible footprint model. BurgerFi is also strengthening its airport operations and anticipates opening more locations by year-end. Their commitment to all-natural ingredients continues to resonate with consumers, leading to opportunities for further expansion.

BurgerFi has launched a new brand campaign titled 'AmpliFi Your Appetite' to promote its all-natural burger offerings. This initiative builds on the brand's 11 years of growth and aims to highlight its commitment to quality with fresh, responsibly sourced ingredients. The campaign is informed by consumer research to enhance customer engagement. Additionally, BurgerFi plans to introduce a new app and revamp its website to improve customer experience. The brand has received multiple accolades, including 'Best Fast Casual Restaurant' in USA Today's 10Best Awards.

BurgerFi International Inc. (Nasdaq: BFI, BFIIW) is assessing the impact of Hurricane Ian and is actively supporting recovery efforts in the community. As of now, 174 out of 178 locations are operational, with only two corporate and two franchised BurgerFi locations temporarily affected due to power outages. The company prioritizes the safety of its team members and appreciates first responders. Founded in 2011, BurgerFi is a fast-casual dining leader, emphasizing high-quality, all-natural food and recognized for its awards in the industry.

BurgerFi has launched a new limited-time menu item called the Juicy Lucy, available from August 16 to September 19. This burger features two Natural Angus Beef patties, White Cheddar, American, and Pepper Jack cheeses, complemented by Sweet Tomato Relish and BurgerFi's signature Fi sauce. The introduction of the Juicy Lucy aims to enhance the brand's menu variety, following its recognition for serving 'no antibiotic beef' and receiving an 'A-Grade Angus Beef' rating from Consumer Reports. Customers can order via the BurgerFi app or website.

BurgerFi International reported a remarkable 285% revenue growth to $45.3 million in Q2 2022, compared to $11.8 million in 2021, largely due to the acquisition of Anthony's Coal Fired Pizza & Wings. However, the company faced a net loss of $60.4 million, attributed to goodwill impairment charges. While systemwide sales for Anthony's grew 2%, BurgerFi's sales decreased by 4%. The company remains optimistic about achieving $12-14 million in Adjusted EBITDA for 2022, focusing on operational efficiencies and brand expansion.