Welcome to our dedicated page for Bt Brands news (Ticker: BTBD), a resource for investors and traders seeking the latest updates and insights on Bt Brands stock.
BT Brands, Inc. (Nasdaq: BTBD; BTBDW) generates news that spans restaurant operations, financial performance, strategic transactions, and corporate governance activities. As a multi-brand restaurant company, BT Brands issues regular earnings releases covering quarterly and annual results, detailing sales at its Burger Time fast-food chain in the North Central United States, as well as performance at Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, Keegan’s Seafood Grille near Clearwater, Florida, and Schnitzel Haus in Hobe Sound, Florida.
News updates often highlight restaurant-level adjusted EBITDA, net income or loss, and the impact of equity in the results of its affiliate, Bagger Dave’s Burger Tavern, Inc., which operates casual dining restaurants in Michigan, Indiana, and Ohio. BT Brands’ releases also describe operational changes such as closing underperforming locations, selling restaurant properties, and cost-reduction initiatives across its concepts.
Another major theme in BTBD news is corporate strategy. The company has reported on its strategic review process with an investment banker, its evaluation of merger opportunities in various industries, and its definitive all-stock merger agreement with Aero Velocity Inc., a drone solutions and technology company. Related announcements describe the planned spin-off of BT Brands’ restaurant operations into BT Group, Inc., and the expectation that the combined company will be renamed “Aero Velocity Inc.” and trade on the Nasdaq Capital Market, subject to approvals.
BT Brands’ news flow also includes capital markets and governance items, such as its Equity Distribution Agreement for at-the-market offerings and its exempt solicitation filings concerning Noble Roman’s, Inc. Investors and followers of BTBD news can expect coverage of earnings releases, restaurant portfolio updates, asset sales, merger progress with Aero Velocity, and shareholder communications as disclosed through Business Wire and SEC filings.
BT Brands, Inc. (Nasdaq: BTBD) reported Q2 2024 financial results. Total revenues increased 2.7% to $4.1 million, but the company posted a net loss of $69,952 ($.010 per share), an improvement from a $233,734 loss in 2023. Restaurant-level adjusted EBITDA declined to $437,000 from $632,000 year-over-year. Cash and short-term investments decreased to $5.2 million from $6.9 million last year.
Highlights include:
- Pie in the Sky's revenue increased 17.5% to $1,057,000
- Burger Time units saw 10%+ same-store sales growth
- Acquired Schnitzel Haus restaurant in Florida
The company faces challenges with increased labor costs and input prices but expects significant improvement in restaurant operating results in H2 2024.
BT Brands (Nasdaq: BTBD) reported its financial results for the first quarter of 2024, ending March 31. The company operates 17 restaurants, including its recent acquisition, Schnitzel Haus, completed on May 13, 2024. Total revenues increased by 3.9% to $3.2 million compared to the same period in 2023. However, operating loss widened to $631,000 from $251,000, and net loss attributable to common shareholders was $445,700 or $0.07 per share. Restaurant-level adjusted EBITDA dropped to a loss of $15,672 from a profit of $24,946. BT Brands ended the quarter with $6.1 million in cash and short-term investments, a decline from $6.9 million a year ago. CEO Gary Copperud mentioned efforts to reduce costs and improve performance amid inflationary pressures and staffing challenges. The company did not provide a financial forecast for fiscal 2024 due to ongoing uncertainties.
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