Good Times Restaurants Inc Stock Price, News & Analysis

Good Times Restaurants reported a 15.1% increase in total revenues to $33.6 million for Q2 FY22, with Bad Daddy's Burger Bar driving much of this growth, showing a 15.5% same-store sales increase. However, Good Times restaurants saw a 0.9% decline in same-store sales. The company reported a net loss of $2.2 million for the quarter and ended with $7.1 million in cash. CEO Ryan M. Zink highlighted inflationary pressures on costs and indicated an optimistic outlook for future margins. No fiscal 2022 forecast was provided due to uncertainties surrounding COVID-19 and supply chain issues.

Good Times Restaurants Inc. (GTIM) will host a conference call on May 5, 2022, at 5:00 p.m. ET to discuss its second quarter financial results. The call will be led by CEO Ryan Zink and Senior VP of Finance Matthew Karnes.

The call can be accessed by phone at (844) 200-6205, access code 404782, or via live webcast at www.goodtimesburgers.com. An archive will be available post-call.

Good Times Restaurants Inc. (Nasdaq: GTIM) reported a 0.9% decrease in same store sales for Good Times and a 15.5% increase for Bad Daddy's Burger Bar for Q2 ended March 29, 2022. Average weekly sales were $25,469 for Good Times and $50,405 for Bad Daddy's. The company acquired a Bad Daddy's restaurant in Greenville, South Carolina, enhancing its presence in the market. CEO Ryan Zink highlighted the strength of both brands despite industry challenges.

Good Times Restaurants Inc. (GTIM) announced the appointment of Matthew Karnes as Senior Vice President of Finance. Karnes, with 18 years of experience, previously served as Chief Operating and Financial Officer at Denver Economic Development. His role at GTIM aims to strengthen financial operations and strategic decision-making. As part of his inducement compensation, Karnes will receive stock options for 50,000 shares, with specific vesting conditions. GTIM operates 42 Bad Daddy’s Burger Bar locations and 32 Good Times Burgers & Frozen Custard outlets primarily in Colorado.

Good Times Restaurants reported a 20.5% increase in total revenues, reaching $32.9 million for the quarter ending December 28, 2021.

Bad Daddy’s restaurant sales accounted for $24.6 million, with a same-store sales increase of 24.0%. In contrast, Good Times saw a 5.9% decrease in same-store sales, totaling $8.1 million.

The net income attributable to common shareholders was $0.3 million, while adjusted EBITDA was $1.5 million.

The company ended the quarter with $7.6 million in cash and no long-term debt.

Good Times Restaurants Inc. (GTIM) announced a share repurchase program, starting February 7, 2022, to buy back up to $5 million of its common stock. This initiative aims to return capital to shareholders while allowing the company to reinvest in its brands, primarily Bad Daddy's Burger Bar. CEO Ryan Zink expressed confidence in the company's growth opportunities. The timing and number of shares repurchased will depend on various factors, including market conditions. The program may be suspended or discontinued at the company's discretion.

Good Times Restaurants Inc. (GTIM) has appointed Donald L. Stack as the new Senior Vice President of Operations, effective February 7, 2022, succeeding Scott Lefever. Stack has 45 years of experience in the restaurant industry, having led operations for multiple restaurant chains and was previously a Regional Manager at Firebirds International. His leadership is expected to enhance operations and brand growth at Good Times Burgers & Frozen Custard, which operates 42 Bad Daddy’s Burger Bar locations and 32 Good Times locations in Colorado.

Good Times Restaurants Inc. (Nasdaq: GTIM) will host a conference call on February 3, 2022, at 5:00 p.m. ET, to discuss its Q1 financial results. CEO Ryan Zink will lead the call, which can be accessed by calling (844) 200-6205 with access code 721552. The call will also be webcast on their corporate website, with an archive available after the event. Good Times operates 42 Bad Daddy’s Burger Bar restaurants and 32 Good Times Burgers & Frozen Custard locations, focusing on a diverse menu and craft beers.

Good Times Restaurants Inc. (GTIM) reported mixed financial performance for Q1 2022. Same-store sales for Good Times decreased by 2.5%, while Bad Daddy's Burger Bar saw a significant 24.0% growth. Overall sales increased 19.5% at Good Times and 8.9% at Bad Daddy's compared to Q1 2020 prior to the pandemic. Notably, average weekly sales for Good Times were $25,916, while Bad Daddy’s reported $48,174. Increased input costs and staffing challenges were acknowledged by President Ryan Zink. The outlook remains cautiously optimistic amid ongoing challenges.