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. reports developments tied to its restaurant operating business, which derives revenue from food and beverage sales at concepts including Burger Time, Keegan's Seafood Grille, Pie In The Sky Coffee and Bakery, and Schnitzel Haus. News for BTBD commonly centers on operating and financial results for its restaurant portfolio, material agreements, and capital-structure disclosures involving its common stock and warrants.
Company updates also cover shareholder voting matters, governance actions, registration-related activity, and public-company compliance topics that affect the issuer's reporting and corporate structure.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
BT Brands, Inc. (NASDAQ: BTBD, BTBDW) reported a 49% increase in total revenues for the fiscal year ending January 1, 2023, reaching $12.6 million. However, operating income declined to a loss of $391,164, compared to a profit of $980,712 in 2021. The net loss attributable to common shareholders was $562,285, equating to a loss of $0.09 per share. Restaurant-level Adjusted EBITDA rose to $1,691,703, up from $1,631,530. The company's cash and short-term investments stood at $8.1 million at year-end. BT Brands faced challenges with staffing and inflation, affecting sales and store hours. Despite acquiring three restaurants, there are uncertainties surrounding their performance and impacts of the current economic climate, leading the company to refrain from providing a financial forecast for fiscal 2023.
For the fiscal third quarter ended October 2, 2022, BTBD reported a 76.4% increase in revenue, reaching $4.0 million compared to $2.3 million in 2021, largely due to contributions from recently acquired businesses. However, same-store sales for Burger Time fell by 14.0%, impacted by staffing challenges, leading to limited operational hours. The year-to-date net loss was $224,531, down from a net income of $583,267 in the previous year. Due to inflation, staffing issues, and uncertainties related to acquisitions, the company is withholding its financial forecast for fiscal 2022.