Fat Brands Stock Price, News & Analysis

FAT Brands Inc. (NASDAQ: FAT) will participate in the Sequire Virtual Restaurants & Foodservice Conference on Nov. 17, 2022. CEO Andy Wiederhorn is scheduled to present at 11:00 a.m. ET. The restaurant industry is projected to generate $898 billion in sales this year. This virtual event will feature numerous restaurant and foodservice companies, including 25-minute presentations and notable keynotes. FAT Brands owns and operates 17 restaurant brands, with over 2,300 units worldwide. For more details, visit www.fatbrands.com.

FAT Brands Inc. (Nasdaq: FAT) has withdrawn its proposed registered public offering of Class A Common Stock due to unfavorable market conditions. CEO Andy Wiederhorn stated that while there was significant interest, the terms available were not attractive enough to proceed. The company will continue to monitor the market for future opportunities. FAT Brands operates 17 restaurant brands with over 2,300 units worldwide, emphasizing its focus on franchising and global expansion.

FAT Brands Inc. (Nasdaq: FAT, FATBP, FATBW) announced its intention to conduct an underwritten public offering of Class A Common Stock, with all shares to be sold by the company. The offering will also include a 45-day option for underwriters to purchase an additional 15% of the shares for over-allotments. The offering is subject to market conditions, and details will be outlined in a preliminary prospectus supplement to be filed with the SEC. ThinkEquity is the sole book-running manager for this offering.

FAT Brands Inc. announces a strategic partnership with Brame Holdings LLC to open 80 new franchised locations in Texas over the next decade. The expansion includes 40 Round Table Pizza and 40 co-branded Fatburger and Buffalo’s Express locations, starting in 2023. This initiative aims to meet the rising demand for quality pizza, burgers, and wings in the region. The company emphasizes Texas as a key growth market, with existing success noted in the Dallas area.

FAT Brands has unveiled a refreshed look for its iconic Hot Dog on a Stick location at Muscle Beach, Santa Monica, marking a significant milestone in its 75-year history. The updated venue will officially reopen in April 2023, coinciding with the anniversary of the brand founded in 1946. This renovation aims to enhance customer experience while preserving the nostalgic essence of the original site. Hot Dog on a Stick continues to thrive, offering signature products like hand-stomped lemonade and made-to-order hot dogs, alongside a friendly service environment.

FAT Brands Inc. (NASDAQ: FAT) announced a cash dividend of $0.14 per share for its fiscal 2022 fourth quarter, payable on December 1, 2022, to shareholders of record as of November 15, 2022. This dividend, applicable to Class A and Class B common stock, reflects the company's ongoing commitment to returning value to its shareholders. However, the declaration of future dividends will depend on various factors including operational results and financial stability.

FAT Brands Inc. announced the opening of 100 new franchised locations in 2022, marking its first year surpassing 100 openings since its inception in 2017. The company plans to add approximately 25 more locations by year-end, with a focus on organic expansion following strategic acquisitions in 2021. Notable new locations include openings in Mexico and the Democratic Republic of Congo. CEO Andy Wiederhorn highlighted a development pipeline of over 1,000 units, showcasing the strong appeal of their restaurant brands.

FAT Brands has announced the redemption of 1,821,831 shares of its 8.25% Series B Cumulative Preferred Stock for $43.2 million. The redemption price was $23.69 per share, plus accrued dividends. The move is expected to generate significant cash flow savings for the company, as its new securitization facility offers a lower cost of capital compared to the dividend rate on the redeemed stock. This strategic decision reflects FAT Brands’ focus on improving its financial position and operational efficiency.

FAT Brands Inc. reported a fiscal Q3 2022 revenue of $103.2 million, a 247% increase from $29.8 million in Q3 2021. System-wide sales grew by 57% year-over-year, with 38 new store openings, exceeding the year-to-date milestone of 100 openings. Despite strong revenue growth, the company faced a net loss of $23.4 million, or $1.42 per diluted share. Adjusted EBITDA improved to $24.6 million compared to $7.2 million in the previous year. Looking forward, FAT anticipates opening over 130 new units in 2023 and has a pipeline of over 1,000 new franchise agreements.