Welcome to our dedicated page for Bt Brands news (Ticker: BTBDW), a resource for investors and traders seeking the latest updates and insights on Bt Brands stock.
BT Brands, Inc. (Nasdaq: BTBD; BTBDW) generates news across two main themes: its multi-brand restaurant operations and its announced corporate transformation involving Aero Velocity. Company releases provide detail on the performance of Burger Time fast-food restaurants in North Dakota, South Dakota, and Minnesota, as well as 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.
Investors following BTBD and BTBDW can use this news feed to review periodic financial results, including quarterly and annual earnings, restaurant-level adjusted EBITDA metrics, and commentary on cost trends, labor conditions, and location-level performance. The company’s announcements also describe decisions to close or sell specific restaurant locations, asset sales such as property transactions and trademark dispositions, and the impact of these actions on reported results.
Another important stream of news relates to BT Brands’ equity interest in Bagger Dave’s Burger Tavern, Inc. and the company’s stated plan to exit the Bagger Dave’s restaurant business through the sale of affiliate locations. Releases discuss BT Brands’ share of Bagger Dave’s losses and the progress of asset sales in Michigan and other states.
In addition, BT Brands’ news coverage includes updates on the definitive Merger Agreement with Aero Velocity, Inc., an enterprise described as an emerging leader in drone services. These items outline the proposed merger structure, the creation and planned spin-off of BT Group, Inc. to hold the restaurant operations, and the expected ownership split between legacy BT Brands shareholders and Aero Velocity stakeholders. Readers who track BT Brands news can monitor both restaurant developments and milestones in the Aero Velocity transaction from a single, consolidated source.
BT Brands, Inc. (Nasdaq: BTBD, BTBDW) announced the acquisition of the Village Bier Garten in Cocoa, Florida, for $690,000. The German-themed casual restaurant features authentic food and drinks, enhancing BT Brands' presence in Florida. CEO Gary Copperud emphasized that this investment is expected to generate positive cash flow, aligning with the company's strategy of expanding through acquisitions in the restaurant sector. BT Brands operates Burger Time locations across North and South Dakota and Minnesota, and recently acquired Keegan's Seafood Grille and Pie in the Sky Bakery.
BT Brands, Inc. (NASDAQ: BTBD and BTBDW) announced the acquisition of 41.4% of Bagger Dave's Burger Tavern for $1,260,000, translating to approximately $0.114 per share. This acquisition includes 11,095,085 common shares previously held by founder Michael Ansley, who has also resigned from the board. The deal enhances BT Brands' presence in the casual dining market, as Bagger Dave's operates six remaining locations, previously having 26. CEO Gary Copperud expressed confidence in this investment as it aligns with BT Brands’ expansion strategy and offers financial stability with $1.9 million in cash reserves.
BT Brands, Inc. (NASDAQ:BTBD, BTBDW) reported a 6.8% increase in total revenues to $2.1 million for the 13 weeks ended April 3, 2022. Restaurant operating income rose 17.1% to $379,982, with a net income of $42,650 or $0.01 per share. The quarter ended with $11.1 million in cash, aided by the recent acquisitions of Keegan's Seafood Grille and Pie in the Sky Bakery. CEO Gary Copperud acknowledged challenges from staffing and inflationary pressures, leading to no financial forecast being provided for fiscal 2022.
BT Brands, Inc. (NASDAQ:BTBD) has successfully acquired Pie in the Sky Coffee and Bakery, a local favorite in Woods Hole, Massachusetts, established in 1982. This acquisition marks BT Brands' second since its IPO in November 2021 and is expected to nearly double its 2021 sales. CEO Gary Copperud emphasized the strategic significance of this purchase for expanding the company's footprint in the coffee and bakery sector, both in retail and online. BT Brands has over $10 million in cash available for future acquisitions.
BT Brands reported financial results for the fiscal year ending January 2, 2022, with total revenues of $8.5 million, marking a 3.6% increase from the previous year. Operating income surged by 83.3% to $980,712, and net income reached $608,000, translating to $.14 per share. The company ended the year with $12.4 million in cash after a public offering that netted $10.7 million. Despite these successes, inflationary pressures and supply chain constraints pose challenges, leading to an expectation of margin compression. No financial forecast for fiscal 2022 was provided.
BT Brands, Inc. (NASDAQ:BTBD) announced its initial investment presentation at the 2022 Virtual Growth Conference, hosted by Maxim Group LLC and M-Vest, scheduled for March 28-30, 2022, from 9:00 a.m. to 5:00 p.m. EDT. The conference will showcase a variety of sectors and include presentations, discussions, and Q&A sessions with executives. BT Brands operates fast-food restaurants, including Burger Time and has recently acquired Keegan's Seafood Grille in Florida. To attend, participants must sign up to be M-Vest members.
BT Brands (NASDAQ: BTBD) announced the acquisition of Keegan's Seafood Grill, a restaurant known for its local seafood in Indian Rocks, Florida, after over 35 years of operation. CEO Gary Copperud expressed optimism that this move will exceed target returns and marks a strong step forward following their IPO in November 2021. The company aims to pursue further acquisitions in the restaurant sector to enhance growth and expand its brand presence.
BT Brands reported its third quarter financial results for the period ending October 3, 2021, following a public equity offering. Earnings per share (EPS) for the 39-week period were $0.14, down from $0.20 year-over-year, while third-quarter EPS remained at $0.06, unchanged from the prior year. Cash reserves increased from $2 million to over $12 million post-offering. Total restaurant sales rose to $6.6 million, an $530,000 increase, and same-store sales grew by 8.7%. However, net income fell to $236,000 from $254,000 year-over-year. Management anticipates ongoing cost pressures.
BT Brands, Inc. has priced its initial public offering at $5.00 per unit, aiming to raise $12 million for expansion in the quick service restaurant sector. Each unit consists of one share of common stock and one warrant. The offering is expected to close on November 16, 2021, with shares trading on Nasdaq under symbols BTBD and BTBDW. The company granted underwriters a 45-day option for additional shares to cover over-allotments. This funding will support BT Brands' plans to acquire more restaurant businesses, building on its existing ten locations.