FAT
FAT Brands Inc.0.4200
-0.0059-1.39%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Debt delayed; ops delays detailed.
Q&A clarified debt restructuring hinges on government reopening to unlock Twin Peaks' $75M-$100M equity raise for debt paydown. Management flagged more Smokey Bones closures under master leases and material progress evaluating Fazoli's refranchising proposals. Franchisee delays slipped new openings toward 80 units, costing royalties—every month's wait adds up quick. Casual dining like Hurricane Grill drove SSS gains via experience value, not discounts. Twin Peaks margins reached 17% with further upside from ops tweaks. Amid restaurant recession, investors eye debt resolution and store throughput.
Key Stats
Market Cap
7.79MP/E (TTM)
-Basic EPS (TTM)
-13.36Dividend Yield
0.33%Recent Filings
8-K
Annual meeting elects directors
FAT Brands elected all 13 director nominees at its December 23, 2025 annual meeting, with over 1.57 billion votes for each amid 2.56 billion total voting power. Stockholders approved executive compensation on an advisory basis and ratified Macias Gini & O'Connell as auditors for fiscal 2025. James Ellis resigned beforehand. Continuity intact.
8-K
Notes accelerated, $158.9M due
FAT Brands' subsidiary FB Resid received an acceleration notice on November 25, 2025, for $158.9M in secured notes plus $9.9M accrued interest, following an Event of Default. No cash on hand threatens liquidity, with collateral including 22.5% voting shares in Twin Hospitality Group. Acceleration risks bankruptcy. Director James Ellis resigned same day for personal reasons.
8-K
Securitization notes accelerated
FAT Brands received acceleration notices on November 17, 2025, for $1,256.5 million in Securitization Notes from four subsidiaries after payment defaults. Outstanding principal stands at $1,256.5 million ($1,153.6 million net), with $43.2 million in accrued interest due immediately. No foreclosure yet. Discussions for restructuring continue amid liquidity crunch.
8-K
Securitization notes talks
10-Q
Q3 FY2025 results
FAT Brands posted Q3 revenue of $140M, down 2.3% y/y from $143M yet stable q/q amid Smokey Bones closures. Operating loss widened to $17.4M from $8.8M y/y on $6.9M store closure costs and $1.4M asset impairments, while net loss hit $59.5M versus $44.8M, driven by $37.1M interest expense up from $31.1M. YTD revenue fell 4.1% to $429M, operating loss to $41.5M from $12.9M, and net loss to $161M from $122M. Cash dropped to $2.1M amid $54.7M operating outflow; $1.3B securitized debt shifted current on defaults and rapid amortization events. Debt restructuring talks continue. Securitization foreclosures loom large.
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